Natraj engaged in business repaid loan received from Narain of ₹50,000 by cash on 16-3-2019 (Sunday). He also repaid the balance of ₹15,000 by cheque on 20-3-2019. The amount of penalty leviable for repayment of loan wou
CS Executive · Tax Laws and Practice · PYQS · December 2019
Natraj engaged in business repaid loan received from Narain of ₹50,000 by cash on 16-3-2019 (Sunday). He also repaid the balance of ₹15,000 by cheque on 20-3-2019. The amount of penalty leviable for repayment of loan would be :
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax
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