Income-tax Act, 1961

Benefits to related persons.

271AAE. Without prejudice to any other provision of this Chapter, if during any proceedings under this Act, it is found that a person, being any fund or institution referred to in sub-clause (iv) or any trust or institution referred to in sub-clause (v) or any university or other educational institution referred to in sub-clause (vi) or any hospital or other medical institution referred to in sub-clause (via) of clause (23C) of section 10, or any trust or institution referred to in section 11 has violated the provisions of the twenty-first proviso to clause (23C) of section 10, or clause (c) of sub-section (1) of section 13, as the case may be, the Assessing Officer may direct that such person shall pay by way of penalty-

(a)	-	a sum equal to the aggregate amount of income applied, directly or indirectly, by such person, for the benefit of any person referred to in sub-section (3) of section 13, where the violation is noticed for the first time during any previous year; and
(b)	-	a sum equal to two hundred per cent of the aggregate amount of income of such person applied, directly or indirectly, by that person, for the benefit of any person referred to in sub-section (3) of section 13, where violation is noticed again .... To read the full section download the app from Google Play store Latest Job Openings View all ARTICLESHIP 15 May 2026 ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT YOGESH KAPOOR AND ASSOCIATES New Delhi B.Com View Details 24 May 2026 Accounts & Tax Executive PARAS KHURANA AND CO New Delhi B.Com View Details ARTICLESHIP 14 May 2026 CA ARTICLE PRAVEEN GARG & CO Faridabad CA Foundation View Details 19 May 2026 Accountant ca kunjan Mumbai CA Inter View Details 07 May 2026 CA Assistant amit desai and co Mumbai CA Final View Details ARTICLESHIP 23 May 2026 Article Assistants Acupro Consulting Gurgaon CA Inter View Details 19 May 2026 Fundraising Expert MentorsWorld Ventures Private Limited Ahmedabad Others View Details ARTICLESHIP 30 April 2026 Article Assistant J SINGH & ASSOCIATES Ahmedabad CA Inter View Details Share  Facebook  Twitter  Linkedin  Reddit  Email  Whatsapp  Gmail  Pocket  Print  Pinterest  PDF  Translate Whatsapp Groups GST Income Tax CA Final CA Inter CAclubindia Login at CAclubindia CAclubindia India's largest network for finance professionals User Name Password Remember Me Forgot Password ? Alternatively, you can log in using: Login with Google Don't have an account? Register Now click here to register