Section 269SS – Restriction on Cash Transactions for Loans or Deposits

Tax Glossary Definition

Section 269SS – Restriction on Cash Transactions for Loans or Deposits

This section prohibits accepting or repaying any loan, deposit, or specified sum of ₹20,000 or more in cash. Such payments must be routed through an account payee cheque, demand draft, or electronic transfer to ensure transparency and curb unaccounted transactions.

Example: A loan repayment of ₹25,000 must be made via bank transfer or cheque—cash payments are not permitted.

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