Urgent! tax audit late filing

Lower of 150000 Rs or .50% of turnover

1) Late fee for late filing of return depend upon taxable income (under 234F)

a. 1000 if taxable income < 5 lakhs
b. 5000 if > 5 lakhs upto 31st Dec
c. 10000 if > 5 lakhs upto 31st March 2020

2) penalty under 44AB for late filing of Audit report is 0.5% of turnover or Gross receipts - subject to a maximum of Rs 150000/-

I want to know even if I file return 15Th oct will I be reqd to file penalty of. 5℅ of turnover??

Yes Sir penalty is there.

However if you prove that there was reasonable cause for the said failure then no penalty (under 273B)

1. Penalty u/s 271B is payable if the tax audit report is not filed within the due date. The penalty would be 0.5% of the T.O or gross receipts or Rs. 1.5 lakhs, whichever is lower. 
2. However, sec 273B waives such penalty if reasonable cause is shown for not filing the ROI on time.
Please correct me if the above solution has an alternative view.