Sec­tion 269T of the In­come Tax Act

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No branch of a bank­ing com­pany or a co­op­er­a­tive bank, no other com­pany or co­op­er­a­tive so­ci­ety, and no other per­son shall re­pay any loan or de­posit re­ceived oth­er­wise than by ac­count-payee cheque, if in ex­cess of Rs 20,000. The same ex­cep­tions as for Sec­tion 269SS ap­ply here as well.

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