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Sec 269SS

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(Querist)
08 July 2009 Dear all,
If anyone not complied with Sec 269 SS of IT Act, whether it will attract any penalty or dis allowance ?
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CA Tilak Raj Sharma

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CA Tilak Raj Sharma (Expert)
08 July 2009 For any failure under section 269T/SS, Penalty is levied u/s 271D which is minimum to the amount of loan/deposit so taken or accepted.
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CA Tilak Raj Sharma

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CA Tilak Raj Sharma (Expert)
08 July 2009 amount of loan/ depo. accepted/taken in excess of 20,000.
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Ratan Sharma

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Ratan Sharma (Expert)
08 July 2009 Agree with expert.

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