Section 269T threshold clarifies cash repayment limits and exempts cooperative agricultural societies with a higher applicable limit. Section 269T is attracted where (a) the amount of a loan, deposit or specified advance together with interest exceeds the threshold; (b) the aggregate amount of loans or deposits held by the person on the date of repayment together with interest exceeds the threshold; or (c) the aggregate amount of specified advances received by the person on the date of repayment together with interest exceeds the threshold. A legislative amendment raises the threshold for transactions involving Primary Agricultural Credit Societies and Primary Co operative Agricultural and Rural Development Banks and their members.
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Provisions expressly mentioned in the judgment/order text.
Section 269T threshold clarifies cash repayment limits and exempts cooperative agricultural societies with a higher applicable limit.
Section 269T is attracted where (a) the amount of a loan, deposit or specified advance together with interest exceeds the threshold; (b) the aggregate amount of loans or deposits held by the person on the date of repayment together with interest exceeds the threshold; or (c) the aggregate amount of specified advances received by the person on the date of repayment together with interest exceeds the threshold. A legislative amendment raises the threshold for transactions involving Primary Agricultural Credit Societies and Primary Co operative Agricultural and Rural Development Banks and their members.
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