Restriction on cash transactions :

CLAUSE(S) OF FINANCE BILL, 2017	PARTICUL ARS OF AMENDME NTS	SECTION	AMENDMENT / NEWLY INSERTED	APPLICABLE W.E.F.	BRIEF OF AMENDMENT
71,83&84	Restriction on cash transactions	271DA	NEWLY INSERTED	01st April 2017 (A.Y. 2017-18)	It is proposed to impose a penalty of sum equal to the amount received in contravention of Sec. 269ST.The penalty shall be levied by Joint commissioner. However the penalty shall not be levied if the assessee proves that there was good and sufficient reasons for such contravention. However proviso was not required if 271DA referred u/s 273B.