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of <h1>Income Tax Bill 2025 Clause 451 introduces penalties equal to transaction amount for violating monetary restrictions</h1> The Income Tax Bill 2025's Clause 451 introduces penalties for violating section 186's monetary transaction restrictions. The Assessing Officer may impose penalties equal to the sum received in contravention, unless the person proves good and sufficient reasons for the violation. This provision mirrors Section 271DA of the Income Tax Act 1961, which penalizes contraventions of section 269ST. Both provisions aim to deter large cash transactions and promote financial transparency. Key differences include Clause 451's discretionary language versus Section 271DA's mandatory tone, and the shift of penalty authority from Joint Commissioner to Assessing Officer. The proportional penalty structure and reasonable cause exception balance deterrence with fairness in enforcement.
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