Audit under section 44ab


This query is : Resolved 

27 September 2015 Do public limited company having turnover less than 1 crore and having loss need tax audit u/s 44AB?

It not, then can It file its ITR after 30 sep??

What will be the penalty /consequences ?????????

Plz reply as it is very urgent.
Thanx

27 September 2015 1. No.

2. Yes.

3. No penalty. Loss can't be carried forward.

27 September 2015 No need for tax audit. Loss return filing after 30th Sep not eligible for carry forward of loss.


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