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269 under income tax act
taken cash from mother under income tax more than 20000 is liable for penalty u/s 269 ????
Replies (3)
Yes, section 269SS will applicable
If its gift....... section 269SS not applicable.
& hence not liable for any penalty if it is below 2 lakhs rupees (u/s. 269ST of IT act).....
Agree with Mr. Dhirajlal Rambhia Sir
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