Cash received unsecured loan

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Sandeep Jain (Querist)
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11 July 2019
Sir,

How many amount may be taken as a unsecured loan from one person as cash mode

Kamal Kant Mittal (Expert)
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11 July 2019 Hi,
The limit as per Income tax act is of 20,000. The relevant sections for same are 269SS and 269TT.

Regards
CA Kamal Kant

CA Mayur Todmal (Expert)
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11 July 2019 you also have to take care of The Banning of Unregulated Deposit Schemes Bill, 2018

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