Un secured loans amount allowed in it act

This discussion explores the treatment of unsecured cash loans under the Indian Income Tax Act. It clarifies that cash loans exceeding certain thresholds or from numerous individuals may be disallowed under Section 68. While cash purchases of fixed assets are permitted, depreciation claims might be affected. The general consensus is that cash loans below £20,000 per person are permissible, though a maximum number of such lenders isn't explicitly defined.