sec 269ss
This query is : Resolved
06 September 2010
Whether Salary payable to party converted into unsecured loan will come within sec 269ss???????????
06 September 2010
Though the same may be reported in tax audit report as it is received by other than an account payee cheque the same may not be disallowed.
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06 September 2010
if contravention of section 269SS or 269T is made, the amount in question is not added to the income of the assessee, panalty equal to the loan taken or repaid can be imposed
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