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unsecured loan under 3cd sec 269ss
loan taken from a bank to buy a vehichle for business so..should i show that amount under 3CD u/s 269ss or 269T?
Replies (2)
Section 269SS and 269T does not applicable on acceptance and repayment of loan to Any banking company, post office savings bank or co-operative bank
section 269SS is applicable only when loan/deposit/advance is taken or accepted by any mode other than account payee cheque,DD,or online transfer. but there an exemption to this section if loan is taken from banking company
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