Section 269SS and Section 269T

If there is a business loss of Rs.40 lakhs and violation of sec 269ss & 269t Rs.10 lakhs.Can we set off the penalty amount from business loss?
Replies (4)
Quick Summary
This discussion addresses whether a penalty incurred for violating Sections 269SS and 269T of the Income Tax Act can be offset against business losses. The consensus from the participants is a clear 'no'. It is not possible to deduct these penalties from business losses, and the penalty amount must be paid separately.

No.....................
No it's impossible
No. not possible. you have to pay in cash
No such option available in Income Tax.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details
Company
Featured 27 October 2026
semi-qualified CA

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Final

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
Featured 07 November 2026
Chartered Accountant

DPV & Associates

Chennai

CA

View Details
Company
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details
Company
23 October 2026
Sr. Accountant

SANKARAN & KRISHNAN

New Delhi

B.Com

View Details