it assessess cash loans from different persons details mentioned below
each person rs:19,000/- * 35 different persons rs:665000/-
each person rs:18,000/- x 25 different persons rs:450000/-total rs:1115000/- amount received for fixed assets purchase purpose.
question:
assessess un secured amount allowed in it act and sec 68 and sec 69 treatment in it act
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Un secured loans amount allowed in it act
Replies (2)
Unsecured load from 35 different person in cash mode not allowed it's 100% plenty
(2) cash purchase fixed assets allowed but your can't Claim deperication
(2) cash purchase fixed assets allowed but your can't Claim deperication
Less than 20000 cash loan is allowed as deduction.
not sure if there is any limit for maximum amount of persons with less than 20k cash loan.
not sure if there is any limit for maximum amount of persons with less than 20k cash loan.
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