Tax audit

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Ameya (Querist)
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20 February 2016 What is the fee for late filing of tax audit report?

Suresh Ramaswamy (Expert)
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20 February 2016 1% of the Turnover amount of Rs.100,000/- whichever is lower.

Ameya (Querist)
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08 March 2016 Dear Sir,Thank you Suresh Sir for your reply.Can you please qoute the relevant section in which the same is mentioned?

Suresh Ramaswamy (Expert)
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12 March 2016 Section 271 B of I.T.Act. Current provisions have raised the limit to Rs.1,50,000/-

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