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PENALTY FOR NON FILING OF TAX RETURN

Open uri20170510 32134 1mvafsl?1494421640 karthick asked almost 3 years ago

Dear friends, What is the penalty for non filing of Tax audit cases with in due date.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 acharya answered over 2 years ago

Penalty for non filing of Tax Audit within due date: Non Compliance of section 44AB shall attract penalty u/s 271B of the Income Tax Act. If the assessee fails to get the audit done within the specified due date he shall be liable to a penalty of 1/2% of total sales/turnover or gross receipts of business/profession OR Rs.150000 Whichever is less

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered over 2 years ago

Penalty for non filing of Tax Audit within due date: Non Compliance of section 44AB shall attract penalty u/s 271B of the Income Tax Act. If the assessee fails to get the audit done within the specified due date he shall be liable to a penalty of 1/2% of total sales/turnover or gross receipts of business/profession

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