5 Replies
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 07 October 2022
If a taxpayer who is liable to get a tax audit done but defaults in doing so, a penalty is charged on the taxpayer. The penalty that is levied on him or her is of the following: 0.5% of the total sales or gross receipts or turnover. Rs 1,50,000
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 08 October 2022
One has to keep in mind the penal provisions and file the TAR and ITRs on time
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