sec 269 ss and 269 t

This query is : Resolved 

09 December 2008 what are the implications of non compliance of sec 269 ss and 269t

10 December 2008 Failure to comply with the provisions of section 269SS attracts penalty u/s 271D. Penalty leviable is a sum equal to the amount of loan or deposit taken or accepted.

Violation of 269T also attracts penalty u/s 271E. Penalty amount is equal amount of loan/deposit so repaid.


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