Is there any penalty for not filing of tax audit report for the chemist?
Penalty for Not Filing of Tax Audit Yes, there is a penalty for not filing of tax audit report for a chemist. The penalty is as follows: Least of the following: 1. 0.5% of the total sales, turnover or gross receipts. 2. Rs 1,50,000. The penalty will be imposed by the Income Tax Department.… Read More »