Am I Laible To Penalty u/s 269SS if I Receive Loans from Several Person All Below Rs 20,000 ?

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As per the I.T. Act the aggregate amount of loan taken in cash should not exceed 20,000/-. This aggregate amount means total amount from all the parties from whom loan has been taken or loan from one single party. For eg if I have taken loan from three parties in cash each amount being Rs….

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