sec 269 ss and 269 t

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09 December 2008 what are the implications of non compliance of sec 269 ss and 269t

10 December 2008 Failure to comply with the provisions of section 269SS attracts penalty u/s 271D. Penalty leviable is a sum equal to the amount of loan or deposit taken or accepted.

Violation of 269T also attracts penalty u/s 271E. Penalty amount is equal amount of loan/deposit so repaid.



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