269 under income tax act



taken cash from mother under income tax more than 20000 is liable for penalty u/s 269 ????

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Accountant

Yes, section 269SS will applicable

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KVO Merau Kutchh

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).....

 
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Accountant

Agree with Mr. Dhirajlal Rambhia Sir
 
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