Hi,
One of the assessee has not got the books audited and submitted the Tax Audit Report for AY 2013-14 though he falls under Tax Audit.
If the assessee submits Tax Audit Report u/s 44AB now, will the penalty u/s 271B attract?
Thanks in Advance...
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Delay in submitting tax audit report
Replies (1)
unfortunately yes, penalty @ 0.5% of total sales or 150000 whichever is less.
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