Section 271DA - Penalty for failiure to comply with provisions of section 269ST. - Income-tax Act, 1961

1 [ Penalty for failure to comply with provisions of section 269ST. 271DA. (1) If a person receives any sum in contravention of the provisions of section 269ST, he shall be liable to pay, by way of penalty, a sum equal to the amount of such receipt: Provided that no penalty shall be imposable if such person proves that there were good and sufficient reasons for the contravention. (2) Any penalty imposable under sub-section (1) shall be imposed by the Joint Commissioner.] 2 [Provided that any penalty under sub-section (1), on or after the 1st day of April, 2025, shall be imposed by the Assessing Officer. ] ************* NOTES:- 1. Inserted vide THE FINANCE ACT, 2017 w.e.f. 1st day of April, 2017 2. Inserted vide Section 85 of the Finance Act, 2025 dated 29-03-2025 w.e.f. 01-04-2025