Penalty U/s 269ss of Income Tax Act 1961

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..... Penalty U/s 269ss of Income Tax Act 1961
Query (Issue) Started By: - sunil patil Dated:- 3-3-2011 Last Reply Date:- 3-3-2011 Income Tax
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Income Tax
A Co-operative credit societ .....

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..... y disburse a loan of Rs.1,00,000/- to his member by cheque. The same member of society who has taken loan from society was partly repay the loan to the society for Rs.50,000/- in cash. The society has .....

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..... accept the amount in cash. Is the society has made contravention of Section 269SS of IT Act ? As per my information contravention u/s 269SS is made only when amount of deposit or loan accepted in cas .....

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..... h & not at the time of acceptance of repayment of loan. Please guide me. Reply By CA Rachit Agarwal: The Reply: However Section 269T deals with the Repayment of loans and deposits.
Discussion .....

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..... Forum - Knowledge Sharing .....

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