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What penalties apply for non-compliance with Income Tax Audit provisions?

For non-compliance with Income Tax Audit provisions under Section 44AB, the following penalties apply:   1. Penalty under Section 271B:     - Amount: 0.5% of total sales, turnover, or gross receipts, subject to a maximum of ₹1,50,000.   2. Late Filing Fees:     If the audit report is not filed on time, the taxpayer may face late filing fees of up to ₹5,000 under Section 234F for delayed returns.   3. Interest on Tax Liability:     Interest may be


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