Dear sir,
I have withdraw cash from account and given loan as without intrest now I m get ing back by cheque. is there any issue?
best regards
Ashish
3 Replies
Income Tax Wala: (Fin. Expert)
(Chartered Accountants)
(2015 Points)
Replied 11 April 2023
you should not take it back by cheque.
Moreover, Cash loan is not allowed, either to give or take
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