unsecured loans
This query is : Resolved
25 June 2010
can a company can accept unsecured loans in cash less then Rs 20000 a day?
may i know the clear provision of sec 169ss?
may i know the clear provision of sec 169ss?
25 June 2010
The correct Setion is 269SS not 169SS.
The section provides that if amount of loan/deposit or aggregate amount of such loan/deposit is Rs. 20000/- or more, the same shall not be taken or acccepted otherwise than by A/c payee cheque/draft.
The section provides that if amount of loan/deposit or aggregate amount of such loan/deposit is Rs. 20000/- or more, the same shall not be taken or acccepted otherwise than by A/c payee cheque/draft.
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