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Section 271DB

Latest Articles


Rationalization of Time limits to Impose Income Tax Penalties

Income Tax : Simplified penalty timelines under Section 275 effective April 2025, including changes in penalty powers, omissions, and clarifica...

March 5, 2025 714 Views 0 comment Print

Proposed Amendments to Penalty Provisions in Income Tax Act

Income Tax : Income Tax Act amendments propose penalties by Assessing Officers instead of Joint Commissioners. Omission of section 271BB and ch...

February 3, 2025 678 Views 0 comment Print

Budget 2025: AO to Impose Sections 271C to 271E Penalty Instead of JCIT

Income Tax : Post-Finance Bill 2025, penalties under specified sections of the Income-tax Act will be levied by the Assessing Officer, with Joi...

February 2, 2025 321 Views 0 comment Print

Surgical Strike on Cash Transactions

Income Tax : a) Legal Measure Applicable to Receipt of Money i. Section 13A : Exemption for certain income of political parties No donation exc...

August 25, 2020 7638 Views 2 comments Print

Section 269SU: Mandating Acceptance of Payment through prescribed Electronic modes

Income Tax : The applicability of the provisions of section 269SU to those business entities who do not receive payments from retail customers ...

June 13, 2020 4818 Views 0 comment Print


Latest Posts in Section 271DB

Rationalization of Time limits to Impose Income Tax Penalties

March 5, 2025 714 Views 0 comment Print

Simplified penalty timelines under Section 275 effective April 2025, including changes in penalty powers, omissions, and clarifications on Section 271AAB.

Proposed Amendments to Penalty Provisions in Income Tax Act

February 3, 2025 678 Views 0 comment Print

Income Tax Act amendments propose penalties by Assessing Officers instead of Joint Commissioners. Omission of section 271BB and changes to section 246A included.

Budget 2025: AO to Impose Sections 271C to 271E Penalty Instead of JCIT

February 2, 2025 321 Views 0 comment Print

Post-Finance Bill 2025, penalties under specified sections of the Income-tax Act will be levied by the Assessing Officer, with Joint Commissioner approval for higher amounts.

Surgical Strike on Cash Transactions

August 25, 2020 7638 Views 2 comments Print

a) Legal Measure Applicable to Receipt of Money i. Section 13A : Exemption for certain income of political parties No donation exceeding Rs.2000 is received by such political party otherwise than by an account payee cheque drawn on a bank or an account payee bank draft or use of electronic clearing system through a bank […]

Section 269SU: Mandating Acceptance of Payment through prescribed Electronic modes

June 13, 2020 4818 Views 0 comment Print

The applicability of the provisions of section 269SU to those business entities who do not receive payments from retail customers was always in question.

Section 269SU Acceptance of payment through electronic modes

May 21, 2020 107433 Views 9 comments Print

Section 269SU has been introduced by the government under Income Tax Act with an intention to promote cashless economy and digital mode of accepting payment. Section 269SU prescribes for accepting payment through certain electronic modes as prescribed in addition to other electronic modes. This article is a detailed discussion on Section 269SU alongwith various practical […]

Some Relief from Section 269SU Applicability, but is that All?

May 21, 2020 2418 Views 0 comment Print

CBDT issued Circular No. 12/2020 clarifying that provisions of Section 269SU shall not apply, if: a) Specified person having only B-2-B transaction (i.e. no transaction with Retail customer/consumer) b) At least 95% of aggregate of all amounts received during previous year is from mode other than cash.

Section 271DB | Penalty for contravening provisions of section 269SU

February 6, 2020 9855 Views 0 comment Print

Understand the penalty provisions of section 271DB and the prescribed mode of electronic payments under section 269SU of the Income Tax Act.

Compliance under section 269SU

January 30, 2020 15327 Views 7 comments Print

In furtherance to the declared policy objective of the Government of India to encourage digital economy and move towards a less-cash economy, a new provision namely Section 269SU has been inserted in the Income-tax Act, 1961 vide the Finance (No. 2) Act 2019, which provides that every person having a business turnover of more than Rs 50 Crore shall mandatorily provide […]

Section 269SU Mandates to provide Digital Payment Facility

January 10, 2020 8580 Views 1 comment Print

Section 269SU Eligible tax payers: Every person, carrying on business if his total sales, turnover or gross receipts, as the case may be, in business exceeds fifty Crore rupees during the immediately preceding previous year.

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