ACCEPTIng CASH MORE THAN 2 LACS FOR SINGLE EVent. to buy lic policy

 

(Querist)
13 September 2017

dear sir I want to know if an institution takes a policy of rs 500000 in cash what penalty will applied for the institution amt taken in 3 transactions 200000 in single day in 4 days but policy completed only one


CA Rashmi Gandhi (Expert)
14 September 2017

Penalty upto 100% will be imposed.............

PAWAN PAMNANI (Querist)
14 September 2017

how can we avoid penalty

PAWAN PAMNANI (Querist)
14 September 2017

and who bear penalty lic or his employee

CA Rashmi Gandhi (Expert)
14 September 2017

Mail me on rash.0903@gmail.com for suggestion to avoid penalty



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