Not done his audit and not file the income tax return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 May 2015 Sir,
I want to know that if a pvt ltd co. unable to file his income tax return & not doing his audit since date of corporation.than what will the department do at this point.please clarify.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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25 May 2015 there are penalties for not filing the tax return. Refer section 271, 271F, 272A, 276CC.

whether audit under income-tax is applicable or not shall depend on turnover, if audit is applicable, then 271B penalty can be levied.

further penalties under companies act are separate for non-audit and roc filings.