banner_ad

Sec 269SS Immovable Property

278 views 4 replies
Hello,
I wanted to ask, if someone receives an amount in cash in excess of ₹20000 as a sale consideration of an immovable property and deposits the same amount the same day in a bank account, will this attract penalty as the amount is directly traceable in the bank account ?
Replies (4)
Yes it'll attract 271D penalty subject to exceptions
No only advance is liable for penalty as this is the consideration no penalty can be levied under section 271d
PLS read the explanation given for specified sum in section 269ss. it says any sum received in respect of transfer of immovable property, as advance or otherwise. it includes sale consideration also. you can explore plethora of case laws in respect of the same
Yes it attracts 271D penalty


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details