Whether loan taken through RTGS above Rs. 20000 is violation of Section 269SS of Income Tax Act 1961?
1 Replies
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 20 March 2013
If loan is taken through cash then only it is violation. If it is through RTGS it is not a violation, as is it one of the payment mode through banking channels.
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