Penalty on Loans Over Rs. 20,000: Exclude Rs. 20,000 as Permissible Per Section 269SS, Per Assessing Officer Instructions.

Penalty on Loans Over Rs. 20,000: Exclude Rs. 20,000 as Permissible Per Section 269SS, Per Assessing Officer Instructions. https://www.taxtmi.com/highlights?id=29062 Penalty u/s 271D - Penalty can be levied on the amounts of loan which exceeds the amount of ₹ 20,000/-. Therefore, the A.O. is directed to exclude ₹ 20,000/- as permissible u/s 269SS, while levying penalty u/s 271D - AT en-us Mon, 09 May 2016 00:40:30 +0530 Sun, 08 May 2016 17:57:29 +0530 TaxTMI RSS Generator Penalty on Loans Over Rs. 20,000: Exclude Rs. 20,000 as Permissible Per Section 269SS, Per Assessing Officer Instructions. https://www.taxtmi.com/highlights?id=29062 Penalty u/s 271D - Penalty can be levied on the amounts of loan which exceeds the amount of ₹ 20,000/-. Therefore, the A.O. is directed to exclude ₹ 20,000/- as permissible u/s 269SS, while levying penalty u/s 271D - AT Highlights Income Tax Mon, 09 May 2016 00:40:30 +0530 https://www.taxtmi.com/highlights?id=29062