https://www.taxtmi.com/news?id=1624 Individual and sole proprietor assessees with turnover up to the prescribed threshold are exempted from audit; assessees including firms and corporates below that threshold receive a reduced interest rate of three percentage points below the standard rate; and the payment period to obtain reduced penalty under the second proviso to the relevant penalty provision is ninety days for those eligible for reduced interest. en-us Mon, 28 Feb 2011 16:21:04 +0530 Mon, 28 Feb 2011 16:21:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=1624 Individual and sole proprietor assessees with turnover up to the prescribed threshold are exempted from audit; assessees including firms and corporates below that threshold receive a reduced interest rate of three percentage points below the standard rate; and the payment period to obtain reduced penalty under the second proviso to the relevant penalty provision is ninety days for those eligible for reduced interest. News - Mon, 28 Feb 2011 16:21:04 +0530 https://www.taxtmi.com/news?id=1624