alleryStart learning →Under section 271B, the penalty is the lower of a share of turnover or what fixed cap?
ARs 10,000
BRs 50,000
CRs 1,50,000
DRs 5,00,000
Answer & Solution
Correct answer: C. Rs 1,50,000
The penalty is limited to Rs 1,50,000, whichever is lower against the percentage of turnover.
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