Section269st
This query is : Open
Sanjay Ratnani
(Querist)
22 November 2017
Can partner withdraw above two lacs in a day from firm in cash and vice versa
Applicability u/s 269st
Applicability u/s 269st
22 November 2017
This will be the contravention to Section 269T.
Section 271E of Income Tax Act 1961 provides that if a loan or deposit is repaid in contravention of the provisions of section 269T then a penalty equivalent to the amount of such loan or deposit repaid may be levied by the Joint commissioner.
Section 271E of Income Tax Act 1961 provides that if a loan or deposit is repaid in contravention of the provisions of section 269T then a penalty equivalent to the amount of such loan or deposit repaid may be levied by the Joint commissioner.
23 November 2017
No....
Not applicable for the Section if withdraw the partner in his partnership firm....
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