As per area 269T a guy cannot pay off the quantity of the loan or deposit or specified progress making use of the interest, or no, payable on that when you look at the bucks to own an amount of Rs

Analogy. Pratham was a worker in a friends. 23,000/-(including attention from Rs.cuatro,000),he took out-of their buddy to own highest studies. What’s going to end up being result of the fresh new said deal getting An effective.Y. 2022-23 ?

Into citation off 269T, If one repays one loan or deposit or given improve regarded into the section 269T otherwise than in conformity to your arrangements of these area, the guy is going to be prone to pay, owing to punishment, an amount equal to the degree of the mortgage or put or specified get better therefore paid down (leaving out desire) significantly less than Part 271E.It is is listed that the words in addition to attract commonly mentioned inside sec 271E.Very Penalty shall be levied to the Pratham amounting Rs.19,000/-.

Setting 3CD Clause 30(cIarticulars of any fees off financing or deposit or people specified progress for the an amount surpassing the fresh restrict specified into the section 269T produced inside earlier in the day year. (more…)