Penalty for late submission of audit report
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 April 2012
What is the penalty for LATE submission (NOT NON SUMBISSION) of audit report?
Please quote the section also.
Please quote the section also.
CA CS Pawan Jajoo
(Expert)
04 April 2012
a sum equal to one-half per cent of the total sales, turnover or gross receipts, as the case may be, in business, or of the gross receipts in profession, in such previous year or years or a sum of 45[one hundred fifty thousand rupees], whichever is less.
Sec 271 B of income tax act 1961
Sec 271 B of income tax act 1961
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