1. My Client have Unsecured Loan of Rs. 112000/- with interest. He paid Rs. 100000/- by cheque but remaining Rs. 12000/- by cash is any penalty Section attract.
2. Receiving Advance Cash Rs.19500/- per day against Sales transaction in future which invoice value is Rs. 2,00,000/-. is any penalty Section attract.
3. Payment of Bill Rs. 2,00,000/- after sales transaction paid Rs. 19500/- per day and Receipts taken. is allowed or not?
Expert Comments Please.
Even 2 is also not a problem. Receiving advance for supply of goods at a future date would not attract the rigours of Section 269SS.
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