#Penalties

3 articles

Tax Audit Due Date 30 September 2026: The Section 271B Penalty If You Miss It (0.5% of Turnover, up to Rs 1.5 Lakh), and the Fee That Replaces It Next Year

Vijay R S
Vijay R S · Sep 11
Miss the 30 September 2026 tax-audit date for AY 2026-27 and Section 271B lets the Assessing Officer levy 0.5% of turnover or gross receipts, capped at Rs 1.5 lakh. It is discretionary, and Section 273B waives it for reasonable cause. From tax year 2026-27 the Income-tax Act, 2025 replaces it with a fixed fee: Rs 75,000 for up to a month, Rs 1.5 lakh after.

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