Blog

• 09/22/2013 18:05

  Section 269ss

  As per section 269ss of income tax act 1961 , no person can take loan or any deposit from any other person more than Rs20000 otherwise than by account payee cheque or bank draft.

  It has been further provided for the purpose of disclosure in form 3cd these loan and deposit does not include loan or deposit taken from banks, financial institutions etc.