Tax Audit -Sec 269SS and 269T

This query is : Resolved

Ganesh (Querist)
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25 May 2010 Mr A has taken an unsecured loan from B for rs 50000 on 1-4-2009 through cheque and the same loan has been repaid on 28-2-2010 loan amounting to rs 30000 through bank

Question: Whether it violate the Sec 269SS and 269T , any disclosure require to be made in 3CD Annexure for the same

Regards,
Ganesh

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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25 May 2010 There is no violation of Section 269SS & 269 T, because both transactions are made thorugh bank.
In 3cd Annexure you have dislocsed
DIPTY LAL JUDGE MAL PVT. LTD.
PARTICULARS OF LOANS/DEPOSITS FOR THE YEAR 2008-09
ANNEXURE
1. NAME & ADDRESS OF DEPOSITERS
2. WHETHER AMOUNT BORROWED ON HUNDI
3. WHETHER LOAN SQUARED UP DURING THE YEAR
4. MAXIMUM AMOUNT OUTSTANDING AT ANY TIME DURING THE YEAR
5. WHETHER LOAN DEPOSIT WAS TAKEN OTHER WISE THAN BY ACCOUNT PAYEE CHEQUE
6. HAS LOAN AMT. ACCEPTED RS. 20000/- OR MORE REPAID OTHER THAN BY A/C PAYEE CHEQUE
7. AMOUNT OF LOAN ACCEPTED DURING THE YEAR
8. AMOUNT OF LOAN REPAID DURING THE YEAR

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