A has given loan to B Rs 5 Lacs. The loan was repaid by B's Son
Whether this will create problem as per sec 269SS/269T of the Income Tax Act as the loan was repaid by B's son instead of B.
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Loan Repayment Sec 269SS/269T
Replies (4)
Not at all.
No if repaid other then Cash
No it will not affected at all
Moreover, the provision is applicable where there is acceptance first and then repayment.. so for A it’s payment first so not applicable
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