1.Loan received and repaid through not account payee cheque, penalty is applicable?
2.Loan received and repaid through account other than borrower / loan to person through electronic mode, then penalty is applicable?
1. Loan should be paid through account payee cheque or through account payee bank draft or in such electronic mode other than cash under section 269SS.
2. But loan should not be paid through other than borrower account. Loan might be repaid through electronic mode
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