Comment on Taxation for Traders - Introduction

Ah…. one last point,
If all of this was not sufficient I was told that if I was found not to have done a Audit when it was required to be done, I could be fined to the tune of 1L50K or so!!

Are these just fear mongers or how much is the truth?
How complicated/ involved is the process of Audit or accounts or “whatever is needed”?

Thanks,
Regards,

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