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means of these lines

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Guest

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Guest (Querist)
30 October 2010 good morning sir,
plz tell me means of these lines,

1. 271F is the section. Penalty is 5,000/-
2. If the assessee is covered under section 44AB(tax audit), penalty can be levied under section 271B which is 1/2% of total sales or Rs,1,00,000/-(w.e.f 01/4/2011 Rs. 1,50,000/-) which ever is less

regards
raju
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
30 October 2010 271F is failure to furnish return of income.

271B is failure to get the accounts audited or for failure to submit audit report.
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Guest

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02 November 2010 but sir tell me one thing late deposit return int. will add in my amt. when will panelty add my amount after 30 days
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