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Cash loan above rupees 20000/-

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 December 2011 can anyone person give loan to another person in cash more than Rupees Twenty Thousand only, if yes, then tell me in what circumstances he can give loan more than 20000/- if not, please give reply in detail.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
30 December 2011 One person can give but penal provisions of section 269SS & 269T would accrue in the hands of the other person accepting the loan.

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