03 October 2013
what consequences a CA as well as an assessee has to face if TAR is not filed upto 30.9.2013 and also not deposited manually with the department upto 30.9.2013 due to any reason ????
03 October 2013
Then liable for penalty of 0.50% on turnover upto maximum of Rs.1.50 lacs, if the reason of delay is satisfied by the AO and there is not other way except delay of filing then he may forgo the levying of penalty.
03 October 2013
The Tax Audit Report should be obtained and furnished before 30th September. This year there was additional option to submit manually and take extension of e-filing upto 31st October. However, if you dont comply with the same, the AO may issue a show cause notice for penalty u/s 271B. However, if the assessee or CA can prove that there was a reasonable cause for not furnishing the audit report within time, then the assessee and CA can take the benefit of section 273B for not levying the penalty. According to me, the technical faults of website can be claimed reasonable clause. Even if the ITO doenst accept the reason, you can file an appeal against the penalty order.
03 October 2013
In any case, primarily the penalty is applicable to be paid by the client. However, if it is at the fault of CA, he can claim it from CA but according to the Act, client has to pay it.
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