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Income Tax - Frequently Asked Questions (FAQs) |
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FAQs on Disallowance of cash expenses or limit on cash transactions |
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What is the provision of Section 269T? |
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Ans. Section 269T restricts a person from repayment of any loan, deposit, or any specified advance received by it otherwise than by an account payee cheque or account payee bank draft (drawn in the name of the person who made the loan, deposit or specified advance) or by use of electronic clearing system through a bank account or other electronic modes prescribed under Rule 6ABBA. |
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