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Unsecured loans
CAN UNSEURED LOAN TRANSFRED. EXAMPLE- IN BOOKS LOAN A/C IS THERE IN NAME OF ANIL , BUT NOW IT IS TRF TO AMIT BY PASSING JOURNAL ENTRY.CAN THIS BE DONE OR NOT
Replies (2)
Yes this can be done
No it can not be done if its a tax audit case since it will breach 269T section. Kindly refer the section criteria for repayment of unsecured loan as book adjustement is not a permitted mean....
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