Section 271B penalty application

LAKSHMI KANTH (TAX CONSULTANT) (449 Points)

19 September 2019  
Sir. My business trading turnover for the financial year 2017-2018 was less than of Rs. 2 crores but more than of 1 crore. I got the books of accounts audited in the month of March 2019 and accordingly filed the Income Tax Returns on 30-03-2019. whether it would attract section 271B penalty? . kindly advice.