https://www.taxtmi.com/circulars?id=4999 Clarifies that penalty under section 271B is leviable only for non-compliance with the audit requirement under section 44AB and not for delay in payment of self-assessment tax; for the first year of the provision, where the audit report prescribed under section 44AB (read with rule 6G) was obtained by the prescribed deadline, penalty under section 271B will not be imposed. en-us Tue, 23 Oct 1990 00:00:00 +0530 Fri, 08 Aug 2008 14:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4999 Clarifies that penalty under section 271B is leviable only for non-compliance with the audit requirement under section 44AB and not for delay in payment of self-assessment tax; for the first year of the provision, where the audit report prescribed under section 44AB (read with rule 6G) was obtained by the prescribed deadline, penalty under section 271B will not be imposed. Circulars Income Tax Tue, 23 Oct 1990 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4999