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Income tax query

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18 November 2011 How much unsecured loan can take without any restriction of income tax act
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CA Navin Jain

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CA Navin Jain (Expert)
18 November 2011 there is no limit in income tax cat. you need to received the loan through a/c payee cheque.
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CA VISHAL RANA,CS,B.Com,AMFI

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CA VISHAL RANA,CS,B.Com,AMFI (Expert)
18 November 2011 unsecured loan less than value of Rs. 20000 can be taken without any restriction in cash....otherwise sec 269SS will be applicable...but there is no restriction on unsecured loan by account payee cheque/draft..
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