| Question And Answer | |
|---|---|
| Subject: | Sale consideration of immovable property received in cash above prescribed limits will attract penal proceedings if the transaction is genuine |
| Category: | Income-Tax |
| Querist: | Cathy |
| Answered by: | Reply of the Expert is awaited; |
| Tags: | penalty u/s 271D |
| Date: | February 24, 2022 |
I sold a immovable property and received 25,00,00 lakhs in cash as a sale consideration and the same was deposited in bank and the transaction was recorded in the income tax return filing also. will it attract penalty under s. 271 D for violation of S. 269SS of the income tax act?
Reply of the Expert is awaited. Please check back later
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