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Sec 271 DA provision applicable

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online

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online (Querist)
21 July 2021 Sir,
It assess source of income below taxable limit(rs:2,50,000/)in f.y.20-21.if assess cash gift from parent rs:3 lacs through on cash mode received.
Question:
Assess sec 271DA penalty provision applicable in it act.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
21 July 2021 Yes, applicable since receipts of 'all nature' are covered in section 269ST.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
23 July 2021 Applicable.
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