TaxTMI 
TaxTMI 
Penalty U/s 269ss of Income Tax Act 1961
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....enalty U/s 269ss of Income Tax Act 1961<br> Query (Issue) Started By: - sunil patil Dated:- 3-3-2011 Last Reply Date:- 3-3-2011 Income Tax<br>Got 1 Reply<br>Income Tax<br>A Co-operative credit society....
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.... 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 cash....
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.... & 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.<br> Discussion F....
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