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269ss in 3cd

01 October 2017

Do I have to report long term unsecured loans taken in excess of 20000/- through other than cash or do I have to report only short term borrowings?

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4 Replies

himanshu gumber (45 Points)
Replied 01 October 2017

Yes you have to report

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himanshu gumber (45 Points)
Replied 01 October 2017

Even if Short Term...Then Also has to Report in 269SS & 269T (Repayment)

Appala Raju Seeram (26 Points)
Replied 02 October 2017

does it include interest payment also?

Srikanth Yekkaldevi (179 Points)
Replied 02 October 2017

Any loan should not be taken in cash if it is more than 20000 as per SEC 269SS .
* if taken then same amount would be paid as penalty under SEC 271D .

repayment of borrowings should not be paid in cash if it is more than 20000 ( including interest ) under SEC 269T .
* if not same would be paid as penalty under SEC 271E .