269 under income tax act
rahul (afd) (134 Points)
15 September 2018
taken cash from mother under income tax more than 20000 is liable for penalty u/s 269 ????
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(166601 Points)
Replied 15 September 2018
If its gift....... section 269SS not applicable.
& hence not liable for any penalty if it is below 2 lakhs rupees (u/s. 269ST of IT act).....
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