Failure to get accounts audited.
Failure to get accounts audited.
446 . If any person fails to get his accounts audited for any tax year or years or furnish the audit report as required under section 63, the Assessing Officer may impose a penalty on such person, which shall be the lesser of—
| (a) | 0.5% of the total sales, turnover, or gross receipts in business, or the gross receipts in profession for such tax year or years; or |
| (b) | ₹ 150000. |