Comment on Taxation Simplified

Hemal commented on 24 Feb 2014, 11:29 AM

in the blog u have mentioned – “Under section 271 B, failure to submit the tax audit in time has a penalty of 0.5% of turnover or Rs 1.5 lakhs, whichever is lesser.”

my question is, incase i am NOT under audit case, but filing after due date, what is the penalty?

thanks,

hemal

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