Section – 69C : Unexplained expenditure, etc
February 28, 2018
Section – 70 : Set off of loss from one source against income from another source under the same head of income
February 28, 2018

Section – 69D : Amount borrowed or repaid on hundi

69D. Where any amount is borrowed on a hundi from, or any amount due thereon is repaid to, any person otherwise than through an account payee cheque drawn on a bank, the amount so borrowed or repaid shall be deemed to be the income of the person borrowing or repaying the amount aforesaid for the previous year in which the amount was borrowed or repaid, as the case may be :

Provided that, if in any case any amount borrowed on a hundi has been deemed under the provisions of this section to be the income of any person, such person shall not be liable to be assessed again in respect of such amount under the provisions of this section on repayment of such amount.

Explanation.—For the purposes of this section, the amount repaid shall include the amount of interest paid on the amount borrowed.

Leave a Reply

Your email address will not be published. Required fields are marked *

32 + = 35

Stay Connected

Never miss out on what’s new in GST,
Accounting, TDS, and Tax compliance.

Subscribe to our newsletter.

Connect with us on WhatsAapp.

Want to know more about HostBooks?

We'll help you out!

− 7 = 3
Please contact me by: