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CA Vishnu Ram
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Asked: 2022-02-20T12:33:12+05:30 In:

What is the penalty for accepting cash more that Rs 2 Lakh

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What is the penalty for accepting cash more that Rs 2 Lakh
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      If a person receives any sum in contravention of the provisions of section 269ST, he will be liable to pay a penalty of a sum equal to the amount of such receipt under Section 271DA. However if a person proves that there were good and sufficient reasons for the contravention, no penalty will be impoRead more

      If a person receives any sum in contravention of the provisions of section 269ST, he will be liable to pay a penalty of a sum equal to the amount of such receipt under Section 271DA.

      However if a person proves that there were good and sufficient reasons for the contravention, no penalty will be imposed.

       

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