Section - 271DA, Penalty for failure to comply with provisions of section 269ST (IT Act, 1961)

Section - 271DA, Penalty for failure to comply with provisions of section 269ST (IT Act, 1961)

Income Tax

Penalty for failure to comply with provisions of section 269ST.

(1) If a person receives any sum in contravention of the provisions of section 269ST, he shall be liable to pay, by way of penalty, a sum equal to the amount of such receipt:


Provided that no penalty shall be imposable if such person proves that there were good and sufficient reasons for the contravention.


(2) Any penalty imposable under sub-section (1) shall be imposed by the Joint Commissioner.