sir/mam, should u can receive a loan of more than 20000 in cash.
on a different dates from a single person.
ex i received a loan of 200000 from a person on a different dates which amt is less than 20000k .
is there any issue of taking the loan amt of 200000.
pls clear my doubts
7 Replies
JATINDER KUMAR
(Accountant)
(3662 Points)
Replied 26 November 2020
You can not receive loan in cash above Rs. 20000 per person per year
Aman Verma
(209 Points)
Replied 27 November 2020
As per 269 SS any person shall not receive any amount exceeding the limit (20000) otherwise than by account payee check , draft or ECS
veera
(self)
(289 Points)
Replied 27 November 2020
Sir is this limit for those taxpayers whose books are being audited.
or for every individual
or for every individual
Aman Verma
(209 Points)
Replied 28 November 2020
Sec 269 SS starts with - " A person " it includes everyone
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