Loan repayment in cash IT department

Your can't show that expense in books of accounts.

specifically problematic of you are maintaining balance sheet and pnl account every year.

CASH WITHDRAWAL CAN BE AN ISSUE. OF 15 LACS.

I agreed with Mr Sharath Chandra reply...

@ Mr Raj,

What is exact use of the amount which is you received...??

How to You shown in Your accounts for the receipt of the amount...??

How to You deal this matter...??

without knowing we can't give/think solution...


But, In general view...

Mr Sharath Chandra's view is correct...

I do not agree.
your name is not symbolic of anything.

No one need your agrees...
Also no one get helpful replies from You.
So, Don't worry about the replies on above...

First of all thank you for your response on this matter

I have taken that amount for my personal usage by mortgaging my mom agriculture land. I am affiliate marketer. I don't have any Business or Job.

I want to pay him through online transfer, but Lender only want in cash.

Before paying I want to know about what are the issues paying in cash to the lender from income tax department may raise?

How can I show to IT dept that was a loan repayment?

How can I show to IT dept that was a loan repayment?
--> If You want repay the amount then banking mode is only better way. So, tell the issues to the lender...

If it's not possible then Cash payment can be give but without any records. Also You can't shown this in IT...

Even if you want to show in IT then please check the following rules, You can get some clarity about Cash transaction...

Sec 269SS & 269ST

Cash payment proof is there provided the recipient gives proof.