i have turnover less than 2 crores and i want to declare profit less than 6%/8%as applicable(as per 44).
whether 271B applicable in case I failure to get my accounts audited.
also i have a taxable income
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44AB audit and Penalty
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As you turnover exceeds Rs. 1 Cr you will be liable for audit & you are also claming profit lower than 6%/8%, if audit failed to get accounts audited then you will be liable for penalty
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