Section 271DA of ITA, 1961 : Section 271Da: Penalty For Failiure To Comply With Provisions Of Section 269St
ITA, 1961
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Explanation using Example
Imagine a local business owner, Mr. Sharma, sells a piece of machinery for ₹3,00,000. The buyer, in violation of section 269ST, pays the entire amount in cash in a single transaction. Mr. Sharma, aware of the cash transaction limit, still accepts the payment. The tax authorities discover this transaction during an a...
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