44ab tax audit
This query is : Resolved
23 November 2011
Sir,
1.A partnership firm having a sale of Rs 1 crore has not yet done tax audit and not filed the return for the Financial Year 31.03.2011. Now can the audit be done and return filed belatedly.
2.Whats the penalty for not doing audit before the due date, how it has to be paid ? can it be avoided ?
1.A partnership firm having a sale of Rs 1 crore has not yet done tax audit and not filed the return for the Financial Year 31.03.2011. Now can the audit be done and return filed belatedly.
2.Whats the penalty for not doing audit before the due date, how it has to be paid ? can it be avoided ?
23 November 2011
Yes, Penalty to pay .5% of Turnover or 1.5 Lacs Whichever is Higher.
and Tax to Be Paid Including Interest U/s 234abc.
and For Not Filling Return Beyond 31/03/2012 then 5000 Penalty Need to Pay.
and Tax to Be Paid Including Interest U/s 234abc.
and For Not Filling Return Beyond 31/03/2012 then 5000 Penalty Need to Pay.
23 November 2011
How to pay the penalty ? Can it be avoided ?
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