Form 3CD
This query is : Resolved
06 June 2009
Is it necessary to disclose in form 3CD when a loan is received for Rs.2,50,000/- towards vehicle loans from any nationalised bank or from NBFC
06 June 2009
3CD requires disclosures in respect of loans recd in cash exceeding 20,000/-
06 June 2009
Clause 24(a(v) and 24(b)(iv) needs disclosure of the mode of acceptance/repayment of the loan or deposit. Therefore , particulars of all loans/deposits exceeding the limit whether accepted/repaid in cash or otherwise need to be disclosed.Exception to disclosure for 269 SS are to banking company,govt company or a corporation established by central,state or provincial Act.
06 June 2009
Yes Chackrapani Warrier is right.. Banks and financial institutions are exempt.. But there is no such exemption to NBFC
06 June 2009
agree only Banks and financial institutions are exempt
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