This Common Cash Mistake Could Leave You Paying Hefty Income Tax Fine
Tuesday, 12 August 2025 ()
As per Section 269SS of the Income Tax Act, taking Rs 20,000 or more in cash as a loan, deposit, or advance is not allowed. If you break this rule, Section 271DA imposes a penalty equal to the entire amount β which, in Rahulβs case, means Rs 1.2 lakh.
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