44AB audit and Penalty
prashant (Article Assistant) (22 Points)
13 September 2017whether 271B applicable in case I failure to get my accounts audited.
also i have a taxable income
prashant (Article Assistant) (22 Points)
13 September 2017
Ashiwini Ballodia
(Managing Partner at TAXounting)
(8727 Points)
Replied 13 September 2017
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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