MukeshGupta (Director) (43 Points)
12 September 2011What is the last date for Tax Audit balance sheets for AY 2011-12. What is the penalty is submitted late. What about e-filling of INdividual/firm balancesheet. Whether mandatory from AY 2011-12
PLease expedite reply
CA Anjali Aswal
(CA)
(215 Points)
Replied 12 September 2011
If the tax audit return is not filed upto 30.09.11 than penalty u/s 271B will be imposed which is 1/2% of turnover or Rs. 150000/- whichever is less. E-filing is mandatory for the firms & companies which are liable for tax audit u/s 44AB.
CAclubindia
