X Co. (P) Ltd. having turnover of ₹220 lakhs for the previous year ended 31st March, 2021 failed to furnish tax audit report under section 44AB. How much could be levied as penalty on the assessee for the failure to furn
CS Executive · Tax Laws · PYQS · June 2021
X Co. (P) Ltd. having turnover of ₹220 lakhs for the previous year ended 31st March, 2021 failed to furnish tax audit report under section 44AB. How much could be levied as penalty on the assessee for the failure to furnish audit report under section 44AB?
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax
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