{"id":1465,"date":"2025-05-21","guid":{"rendered":"https:\/\/APNOKACA.com\/blog\/?p=105601"},"modified":"2025-05-21","slug":"avoiding-penalties-under-section-271b-understanding-the-need-for-an-income-tax-audit","status":"publish","type":"post","link":"https:\/\/APNOKACA.com\/blog\/avoiding-penalties-under-section-271b-understanding-the-need-for-an-income-tax-audit","title":{"rendered":"Avoiding Penalties Under Section 271B: Understanding the Need for an Income Tax Audit"},"content":{"rendered":"\n
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<\/i> Income tax <\/a>

Avoiding Penalties Under Section 271B: Understanding the Need for an Income Tax Audit <\/h1> <\/div>

This blog explains the mandatory income tax audit requirements under Section 44AB for Indian businesses and professionals, detailing the various turnover and gross receipt thresholds. It highlights the significant penalties imposed by Section 271B for non-compliance, alongside conditions where penalties can be avoided due to 'reasonable cause.' The post also emphasizes the broader benefits of an audit beyond just avoiding penalties, such as enhanced credibility and financial accuracy. <\/p>

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<\/div> Krishna Gopal Varshney <\/a>

An editor at Myitronline<\/p> <\/div>