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          Income Tax

          What is the amount of penalty levied under section 271D?

          FAQs on Penalty provision under IT Act

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          Penalty under section 271D equals the amount of loan or deposit taken or accepted under tax law. Penalty under section 271D equals a sum matching the amount of any loan, deposit, or specified sum taken or accepted in contravention of the provision, making the penal liability coextensive with the funds received.
                            Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                              Provisions expressly mentioned in the judgment/order text.

                                  Penalty under section 271D equals the amount of loan or deposit taken or accepted under tax law.

                                  Penalty under section 271D equals a sum matching the amount of any loan, deposit, or specified sum taken or accepted in contravention of the provision, making the penal liability coextensive with the funds received.


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