New deadline for submitting tax audit report is approaching; File it else be ready to pay Rs 1.5 lakh or 0.5% of sales as penalty

Tax audit: The last date to submit income tax audit report is October 7, 2024 for FY 2023-24 (AY 2024-25). If you fail to submit your tax audit report on or before October 7, 2024 then penalty will apply. The penalty is Rs 1.5 lakh or 0.5% of total sales, whichever is lower.

from Tax-Wealth-Economic Times https://ift.tt/WgSLkTn