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sec. 269T

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(Querist)
02 October 2009 can anybodu tell me that if i give advance to any party then sec. 269T will be attracted or not.

Thanx in advance
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
02 October 2009 Section 269T is concerned with repayment of loans/deposits. Here you are paying (and not repaying) money as advance to a party which ,according to me, is out of the purview of the referred section.
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Ratan Sharma

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Ratan Sharma (Expert)
03 October 2009 Agree with expert. It is advance and not the repayment of loan. Sec. 269T not applicable.
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