Scope of section 269ss
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 August 2014
i am planning to start a business. i want to take unsecured loan from my relatives. can i take loan in cash exceeding 20000 Rs. at initial stage.
if not what will be impact of that.
if not what will be impact of that.
21 August 2014
section 269SS will straight away apply and the penalty under 271D can be levied for amount equivalent to the loan amount
Message likes :
1 times
22 August 2014
you should get it from a/c payee cheque
22 August 2014
no, you dont take any loan in cash. it is safe for you for future.
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