Un secured loans received amount any limit provision applicable

This discussion clarifies the rules around unsecured loans received, totalling Rs. 25 lacs. While there's no explicit monetary limit, the IT Act has specific provisions. Loans must primarily be received via bank transfer, as cash transactions, even below Rs. 20,000, can attract suspicion. Crucially, lenders must declare these loans on their Income Tax Returns (ITR) to avoid potential trouble.