Exemption for repayments to specified lenders narrows cash-transaction restriction, excluding government and notified financial institutions from coverage. The amendment inserts a proviso excluding repayment of any loan or deposit from the scope of section 269T where the repayment is made to the Government, ... Summary
Exemption for repayments to specified lenders narrows cash-transaction restriction, excluding government and notified financial institutions from coverage.
The amendment inserts a proviso excluding repayment of any loan or deposit from the scope of section 269T where the repayment is made to the Government, any banking company, post office savings bank, co-operative bank, a corporation established by statute, a Government company, or any other institution, association or class of bodies that the Central Government may notify for this purpose.
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