Question ID :
31740
PENALTY U/S.271D
A director of private limited co has incurred revenue expenditure in cash on behalf of company to the tune of Rs.4 lakh. Whether Sec.269SS will be attracted and penalty will be levied?
Posted by
ATUL MUKUNDLAL TOSHNIWAL
on
Jul 13, 2018
Filed Under
DIRECT TAXES
No, Sec 269SS will not be attracted as 269SS is for loan, and in this case pay the director as reimbursement.
Posted by
CA. AGARWAL ABHAY KUMAR on
Jul 16, 2018