Applicability of Section 269SS & 269T
This query is : Resolved
24 March 2009
The balance of an unsecured loan as on 1st April 07 was Rs. 2,00,000/-. An additional loan of Rs. 10,000/- was taken on 1st June 07 in CASH. A sum of Rs. 10,000/- was repaid on 30th September 07 in CASH.
Am I liable to pay penalty u/s 271D and 271E of the I. T. Act?
If yes, what would be the amount of penalty imposable?
What if the amount (Rs. 10,000/-) is shown as a temporary advance?
Thanks & Regards,
Niki
Am I liable to pay penalty u/s 271D and 271E of the I. T. Act?
If yes, what would be the amount of penalty imposable?
What if the amount (Rs. 10,000/-) is shown as a temporary advance?
Thanks & Regards,
Niki
24 March 2009
yes it is covered
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on capital gains revoked us 54f
- Refund of AY 22-23
- Should I include march foreign salary received in April in my income for FY 2023-24?
- HSN Details in IFF/GSTR-1 & in GSTR 9
- Inventory of finished goods
- GST APPLICABILITY ON POLLUTION CHECK SERVICE
- Company Incorporation - CA and directors signing from different states
- Applicability of Ind As to associate of associate
- Confusion around Form 26QB fields
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Return material
- TDS is applicable on payment of Fix Meal
- Form ITC 04
- TDR receipts for agreement holder
- Point (III) 9 of GSTR-9C
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
