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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Clause 69 Amends Section 271D: Penalties for Accepting Loans, Deposits, or Specified Sums Violate Section 269SS. Effective June 2015.</h1> Clause 69 of the Finance Bill, 2015, amends section 271D of the Income-tax Act, effective June 1, 2015. The amendment adds the term 'or specified sum' to the existing provision, which penalizes individuals for accepting loans or deposits in violation of section 269SS. Under this amendment, penalties equal to the amount of the loan, deposit, or specified sum accepted in contravention of section 269SS will be imposed.
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