According to the Money Lenders Act, a license holder can give a cash loan of Rs 5 lacs and take interest amount in cash. Is it legal or not?
1 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 15 March 2021
You can take interest as cash but limited to 200000 rupees in a day u/s 269ST
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