What is the threshold limit for Section 269T?

Ans. This provision shall be attracted if the value of the covered transaction exceeds the following limit:

a. The amount of such loan or deposit or specified advance together with interest payable thereon is Rs. 20,000 or more;

b. The aggregate amount of the loans or deposits held either in own name or jointly with any other person on the date of such repayment, together with interest payable on such loans or deposits, is Rs. 20,000 or more; or

c. The aggregate amount of the specified advances received by such person either in his own name or jointly with any other person on the date of such repayment together with interest payable on such specified advances, is Rs. 20,000 or more.

H​owever, if a deposit is paid by a Primary Agricultural Credit Society (PACS) or a Primary Co-Operative Agricultural and Rural Development Bank (PCARD) to its member or a loan is repaid to a PACS or a PCARD by its member, the threshold of Rs. 20,000 shall be enhanced to Rs. 2 lakhs¹.

^​1Inserted by the Finance Act, 2023 with effect from 01.04.2023.​