Sec 269SS
This query is : Resolved
Ravi Prasad
(Querist)
08 July 2009
Dear all,
If anyone not complied with Sec 269 SS of IT Act, whether it will attract any penalty or dis allowance ?
If anyone not complied with Sec 269 SS of IT Act, whether it will attract any penalty or dis allowance ?
CA Tilak Raj Sharma
(Expert)
08 July 2009
For any failure under section 269T/SS, Penalty is levied u/s 271D which is minimum to the amount of loan/deposit so taken or accepted.
CA Tilak Raj Sharma
(Expert)
08 July 2009
amount of loan/ depo. accepted/taken in excess of 20,000.
Ratan Sharma
(Expert)
08 July 2009
Agree with expert.
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