John Joseph (FINANCE MANAGER) (77 Points)
25 May 2011
what are the provisions in IT Act attracts for repayment of Loans by a co to other person in cash. Loan balance is more than 20000.
Sec 269T mentions only Deposits, that means lOan is not covered??
CA NITUL MEHTA
(KPMG-Senior Consultant-International Tax )
(236 Points)
Replied 25 May 2011
READ IT PROPERLY SECTION 269T MENTIONS BOTH LOANS AND DEPOSITS MAY BE YOU ARE READING FROM SOME BOOK CHEK IN BEAR ACT U WILL BE CLEAR
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