42. Media House Audit Consequences: Could you outline the potential consequences of a delayed filing for the statutory audit pertaining to Media House?
Statutory Audit Pertaining to Media House Here are some of the potential consequences of a delayed filing for the statutory audit pertaining to Media House: 1. Penalty: The Income Tax Act, 1961 (ITA) imposes a penalty of 0.5% of the total sales, turnover or gross receipts, whichever is higher, or Rs. 1,50,000, whichever is less,… Read More »