Question ID :
29585
Section 269ST
A partnership firm receives Rs.4 lakhs from one partner as capital by way of cash on 4 different dates of Rs.1 lakh each. Whether 269ST violated and Rs. 4 lakhs penalty attracts for AY 2018-19?
Posted by
ANAND B
on
Apr 20, 2018
Filed Under
DIRECT TAXES
yes, penalty will be applicable.
Posted by
CA. SATISH CHAND GARG on
Apr 20, 2018
Answer ID :
65525
Penalty cannot be imposed because 269ST(a) is not violated.
Posted by
B.CHACKRAPANI WARRIER on
Apr 20, 2018
Answer ID :
65528
Penalty cannot be imposed since Sec 269ST(a) is not violated. Its not applicable on Partners Capital
Posted by
AJAY JAIN on
Apr 20, 2018
Answer ID :
65535
No penalty as NA on Partners capital
Posted by
SANDEEP KAPOOR on
Apr 22, 2018
Answer ID :
65536
Considering the meaning of person as per Income Tax act penalty us 269ST is applicable
Posted by
BALDEV SINDHWANI on
Apr 22, 2018
Answer ID :
65544
Reply continued....Penalty applicable if a sum of RS. 2 lakh or or more recd in a day. If recd RS. 1 lakh per day penalty provisions are not applicable
Posted by
BALDEV SINDHWANI on
Apr 22, 2018