vijay singh (CA FINAL STUDENT) (53 Points)
30 August 2016
Saurabh Nene
(Manager (Accounts & Taxation))
(32 Points)
Replied 30 August 2016
The person accepting the loan or deposit and the lender, both should have agricultral income and it is further importnant to note that, both of them should not have any other income chargable to tax. In this case if lender has income from other source benefit of exemption is not available. So 269SS is applicable.
In section 269T i.e. for repayment, anyways there is no such exemption. Hence 269T is applicable.
vijay singh
(CA FINAL STUDENT)
(53 Points)
Replied 31 August 2016
thx but one thing if lender has only saing bank interet income then 269SS aplicable or not
vijay singh
(CA FINAL STUDENT)
(53 Points)
Replied 31 August 2016
thx but one thing if lender has only saing bank interet income then 269SS aplicable or not
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