Section 269ss
This query is : Resolved
17 November 2011
suppose if party A takes cash loan of 15000.00 from party B and then repays it and then again takes cash loan of 10000.00 from same party. Does it attract provisions of Section 269SS??
17 November 2011
No This will not attract section 269SS. As per the provision if an amount outstanding exceeding 20000/- then can not take advance in cash. In your case outstanding is not exceeding the threshold limit so party a can take cash advance.
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