Chartered Accountants · Kolkata · Since 2007 +91 98305 33138gaurav@ggoenka.com

Acts

271D Penalty for failure to comply with the provisions of section 269SS

CHAPTER XXI

PENALTIES IMPOSABLE

Penalty for failure to comply with the provisions of section 269SS.

271D. (1) If a person takes or accepts any loan or deposit or specified sum in contravention of the provisions of section 269SS, he shall be liable to pay, by way of penalty, a sum equal to the amount of the loan or deposit or specified sum so taken or accepted.

(2) Any penalty imposable under sub-section (1) shall be imposed by the Joint Commissioner.

1[“Provided that any penalty under sub-section (1), on or after the 1st day of April, 2025, shall be imposed by the Assessing Officer.”.]

Note:-

1.Inserted byThe Finance Act, 2025 dated 29.03.2025.

Reference copy from the firm’s resource library, saved on 26 October 2026. Laws, rates and notifications change — for the current position on your matter, please talk to us. Back to the Knowledge Bank.