If a person violates the provisions of section 269ST and receives money in excess of Rs 2 lakhs then a penalty will be equivalent to the amount received. Penalty u/s 271DA shall not be imposed if the taxpayer has valid and sufficient reasons for the violation of section 269ST, provided the taxpayer proves it to the satisfaction of the Assessing Officer.  Government should clarify or list down the reasons for a better understanding of what will constitute as good and sufficient reasons. Note: Penalty u/s 271DA can be imposed by the Joint Commissioner of Income Tax.