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unsecured loans
What is maximum amount unsecured loan in cash?
Replies (2)
Rs.20000/- anything beyond that will attract provisions of Section 269SS. Penalty will be 100% of the amount under Section 269T
any amount borrowed otherwise than by account payee cheque, bank draft or ECS through a banking channel beyond specified limit than penalty is equal to amount so borrowed. Prescribed limit is 20000
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