269SS & 269 T

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saida (Querist)
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13 November 2009 Hi.. All...
I have a small doubt, need clarification.. If a Pvt Ltd company gives loans (advance) to employees in cash for more than Rs. 20,000/- (say 50,000). Is 269 SS / 269 T is applicable to company while giving / receiving back the loans (advance)?? pls do the needful. regards

hshivakumar

hshivakumar (Expert)
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13 November 2009 section 269ss & 269T applicable only when company accept and repaid such loans in cash and not for if company gives to loans to employees.

vishnu prasad prabhu

vishnu prasad prabhu (Expert)
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13 November 2009 SEC 269 SS IS applicable only when the company accepts any loan ,and 269 t is applicable only when the already accepted loan is repaid by the company,in the above case company never accepts nor does it repay.

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saida

saida (Querist)
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13 November 2009 Thank u very much Mr.Shiva and Mr. Vishnu