Pay a penalty of Rs 1.5 lakh or 0.5% of total sales if you fail to submit tax audit report by September 30, 2024

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Income Tax Audit: The tax audit report submission deadline for specified taxpayers is September 30, 2024 for FY 2023-24 (AY 2024-25). If you miss this deadline you need to pay Rs 1.5 lakh penalty or 0.5% of total sales, whichever is lower. This can cause a significant loss, hence upload the tax audit report by September 30, 2024.

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Pay a penalty of Rs 1.5 lakh or 0.5% of total sales if you fail to submit tax audit report by September 30, 2024

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