alleryStart learning →An auditor who fails to file the resignation statement is liable to a fine in which range?
ARs 10,000 to Rs 1 lakh
BRs 25,000 to Rs 5 lakh
CRs 1 lakh to Rs 25 lakh
DRs 50,000 to Rs 5 lakh
Answer & Solution
Correct answer: D. Rs 50,000 to Rs 5 lakh
Section 140(3) prescribes a minimum fine of fifty thousand rupees, extendable to five lakh rupees.
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