Category Archives: Income Tax Penalties

Mode of Repayment of Loans and Deposits: Penalty for Failure to Comply with the provisions of section 269T, 271E

Section 269T explains the provisions relating to the mode of repayment of certain loans and deposits whereas Section 269SS deal with acceptance of Loans & Deposits and section 271E deals with penalty for failure to comply with the provisions. The provision says that no branch of a Co-operative bank, a Banking Company or any Company or… Read More »