Easy Office
LCI Learning

Penalty u/s 271 d

This query is : Resolved 
Profile Image

Profile Image

(Querist)
27 January 2014 A takes loan from B of Rs. 1 lakh in CASH on 15-01-2014 and repay the same in CASH on 22-01-2014.
Who is liable to pay penalty u/s 271 D ?
Profile Image

AVTAR SINGH

Profile Image

AVTAR SINGH (Expert)
27 January 2014 A is liable for penalty u/s 271D.
Profile Image

Intermediate Student

Profile Image

Intermediate Student (Querist)
28 January 2014 In above case if A takes loan by cheque and repay the same by cash to B, then B is liable to penalty or not?
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

AVTAR SINGH

Profile Image

AVTAR SINGH (Expert)
28 January 2014 B has not taken/repaid loan, therefore he is not liable for penalty.
Profile Image

Intermediate Student

Profile Image

Intermediate Student (Querist)
29 January 2014 Ok Thanks.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links