not file return
Singh Kamboj (409 Points)
31 October 2018
if the audit case loss return is not file on 31-10-18 then what amount of penalty is imposed.
2 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 31 October 2018
If any person falls under the section & fails to get audited of his account before the due date, then they will be liable for a penalty of 1/2% of the turnover or the gross receipts up to a maximum penalty of Rs. 1, 50,000.Sep 22, 2018
Nitesh bind
(Student CA Final )
(12692 Points)
Replied 06 November 2018
As per Section 271B, The extent of penalty for failure to get account audited and submit tax audit report is a penalty of 1/2% of the turnover or the gross receipts up to a maximum penalty of Rs.
1,50,000.
1,50,000.
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