The assessee has paid an installment of rs. 54000 to a non banking finance company in cash. He has violated sec 269T , but as per sec 269st, NBFCs can accept less than 2 lakhs from a person in a day (as per circular no. 22 dated 3-7-17).
Aren't these sections contrary to each other. Is there a way to prevent penalty ?
Menu
Loan repaid to NBFC in cash
Replies (1)
nowhere in that circular there's mention about nbfc
Recent Topics :
- Capital Gains Tax
- LTCG 112A and business loss
- FAST-DS 2026 applicability: foreign employee share
- NRI Property Sale in India: TDS Rates and Key Comp
- Clarification on September 2026 PF Calculation for
- DRC-03 interest paid under CGST/SGST instead of IG
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
Related Topics :
CAclubindia
