# The Finance Act, 1984, Section 31: Insertions of new section 276DD

- Act: The Finance Act, 1984
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1984/section/31/

## Text

Insertions of new section 276DD. 31. In the Income-tax Act, after section 276D, the following section shall be inserted, namely: — Failure to comply with the provisions of section 269SS. "276DD. If a person, without reasonable cause or excuse, takes or accepts any loan or deposit in contravention of the, provisions of section 269SS, he shall be punishable with imprisonment, for a term which may extend to two years and shall also be liable to fine equal to the amount of such loan or deposit.". [Finance Act, 1984] © Copyright. Taxmann Publications Pvt. Ltd.

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