Is Transfer Of Loan or Deposit By Book Entreis Liable To Penalty U/s 269SS or 269T?

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There is a private company. It has taken loan from a party exceeding RS 20,000. Now party wants to transfer this money to someone’s name. Can private company do that? Will that book transfer fall under mischief of any section of the I T Act. Ritha BangIn my opinion , there will not be any…

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Tags: Income laws Penalty tax

The author has spent twenty years with Income Tax department and desire to service common citizen of India which include professionals like tax practioners ,CA,ICMA, CS and tax lawyers by advising them on the direct tax matters for a very affordable fee.

Related Post "Is Transfer Of Loan or Deposit By Book Entreis Liable To Penalty U/s 269SS or 269T?"

No Penalty u/s 271D in 5 Circumstances !
Section 269SS of the Income Tax Act
No Penalty for Not Keeping Stock Books or Registers !
Many times the assessing officer carries survey