Penalty for default in tax audit enhance
Posted on March 10, 2010 with
The Finance Bill proposes to amend the provisions of section 271B of the Act, raising the amount of maximum penalty leviable from Rs.1 Lakh to Rs.1,50,000. penalty for default in getting the accounts audited under section 44AB shall be ½ % of the total sales turnover or gross receipts subject to maximum of Rs. 1,50,000.
Category: Business & Economy