Can any one tell me about Sec 269 T? also send if any case law or judgement regarding this.
5 Replies
CA Hemant T Dewani
(Chartered Accountant)
(3356 Points)
Replied 08 May 2008
any payment made in excess of RS.20000 to any person in cash are disallowed u/s 269T of the said act
swetha
(CA final Student)
(24 Points)
Replied 08 May 2008
Any loan/deposit or the aggregate amt of loan/deposit is in excess of 20000 otherwise than by account payee/draft then the amt is disallowed
Pavan Kumar.S
(Article Assistant)
(37 Points)
Replied 08 May 2008
Hi,
Sec 40A(3) deals with disallownce of payment exceeding Rs 20,000 in cash towards any expenditure by an assessee whereas, Sec 269T deals with the disallowance of repayment made by assessee towards loans and deposites accepted by him in cash exceeding Rs 20,000.
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