No penalty u/s 271B if no profit computation; Section 44AB audit not required for assessee society.

No penalty u/s 271B if no profit computation; Section 44AB audit not required for assessee society. https://www.taxtmi.com/highlights?id=37813 Penalty u/s 271B - not getting accounts audited u/s 44AB - when there is no computation of profits and gains of the business or profession as part of the total income, the assessee society is not amenable to section 44AB of the Act. - AT en-us Fri, 02 Feb 2018 12:32:09 +0530 Fri, 02 Feb 2018 12:32:09 +0530 TaxTMI RSS Generator No penalty u/s 271B if no profit computation; Section 44AB audit not required for assessee society. https://www.taxtmi.com/highlights?id=37813 Penalty u/s 271B - not getting accounts audited u/s 44AB - when there is no computation of profits and gains of the business or profession as part of the total income, the assessee society is not amenable to section 44AB of the Act. - AT Highlights Income Tax Fri, 02 Feb 2018 12:32:09 +0530 https://www.taxtmi.com/highlights?id=37813