Sections 269SS and 269T restrict acceptance and repayment of loans and deposits in cash above Rs 20,000. Violations can attract penalties equal to the amount involved.
Practical compliance
- Use bank transfers for loans between related parties
- Document board resolutions for company borrowings
- Avoid cash repayments of director loans
- Maintain loan registers with interest terms
Align with small business TDS, business tax filing, and bookkeeping support.
