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Family Support Transactions Exempt from Loan Penalties u/s 269SS of Income Tax Act.

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Full Text of the Document

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....Penalty u/s 271D and 271E - the transaction between son and father and wife and husband, for giving a support and help, in law, is not a loan or deposit in stricter sense of section 269SS of the Act and it is only a financial support - no penalty - AT....

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