. WHETHER ANY PENALTY IS LEVIABLE UNDER INCOME TAX ACT IF PURCHASE AMOUNT OF MORE THAN RS.20,000 IS PAID BY WAY OF CASH WHILE PURCHASING IMMOVABLE PROPERTY.
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Penalties
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IF YOU ARE PURCHASE FIXED ASSET AND MAKE PAYMENT BY CASH ABOVE RS 20000,,THAN THERE IS NO PELANTY AS PER 40 A
No penalty would be attracted.
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