Penalty u/s 271 d
This query is : Resolved
Intermediate Student
(Querist)
27 January 2014
A takes loan from B of Rs. 1 lakh in CASH on 15-01-2014 and repay the same in CASH on 22-01-2014.
Who is liable to pay penalty u/s 271 D ?
Who is liable to pay penalty u/s 271 D ?
AVTAR SINGH
(Expert)
27 January 2014
A is liable for penalty u/s 271D.
Intermediate Student
(Querist)
28 January 2014
In above case if A takes loan by cheque and repay the same by cash to B, then B is liable to penalty or not?
AVTAR SINGH
(Expert)
28 January 2014
B has not taken/repaid loan, therefore he is not liable for penalty.
Intermediate Student
(Querist)
29 January 2014
Ok Thanks.
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