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cash loan by official money by Income tax
I borrow my friend 4 lacs loan by official cash in my hand. can I give in two days 200000rs×2 = 400000(four lacs) . can I borrow him in cash. please give me a call 7874077556.
Replies (1)
you can give loan in cash. there's no problem for you but the recipient of the loan have to pay penalty for receipt of loan in cash since the loan received is in excess of 20000 in cash
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