whether loan in kind will be covered u/s 269ss supported by case law
4 Replies
praveen
(Chartered Accountant)
(6971 Points)
Replied 26 May 2011
Loan can be in kind or in the form of cash (monetary or non monetary) i dont think it is to be supported by a case law and all.....
CA NITUL MEHTA
(KPMG-Senior Consultant-International Tax )
(236 Points)
Replied 26 May 2011
NO LOAN AND DEPOST ONLY IN CASH ARE COVERED HERE BUT YOU MUST BE CAUTIOUS WHEN REPAYMENT IS DONE IT MUST NOT BE IN CASH
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 26 May 2011
| Originally posted by : NIMIT MEHTA | ||
 |
NO LOAN AND DEPOST ONLY IN CASH ARE COVERED HERE BUT YOU MUST BE CAUTIOUS WHEN REPAYMENT IS DONE IT MUST NOT BE IN CASH |
 |
AGREED
Harpreet
(* * * * * *)
(1670 Points)
Replied 26 May 2011
Agreed but notified in chart of 269s when cash payment made more than 20000/-
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