what is the % of penalty u/s 271b for the A.y.2012-2013
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Penalty u/s 271b for a.y . 2012-13
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Section 271B levies penalty if there is failure to get the accounts audited.Penalty is the sum equal to 0.5% of total sales, turnover or gross receipts or a sum of Rs 1,50,000, whichever is less.
Regards,
Fatema
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