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Income tax

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(Querist)
17 July 2014 sir e.g A given loan to b by cheque of Rs 500000 last 2 year amount not received from b for the f.y 2013-14 B gave of Rs 300000 in cash can we accept cash amout or not???is this transaction is valid or not
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
17 July 2014 receipt in cash is not a problem. repayment in cash is a problem. So B wont face any problem

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