Audited return

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

11 October 2011 Sir I am an advocate. An assessee has now come before with audited balance sheet dated 28-09-2011. He wants me send his income tax return now i.e. after 30-09-2011.
Should the penalty of 1 lakh applicable in this case? I have consulted that CA and he said no penalty as audit is done before 30-09-2011.

Please guide.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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11 October 2011 Pl see the article of Adv. Bajaj in the following link.
https://taxguru.in/income-tax/no-penalty-us-271b-if-the-audit-report-is-obtained-within-the-due-date-but-return-is-filed-after-the-due-date.html

Querist : Anonymous

Querist : Anonymous (Querist)

11 October 2011 sir this way an assessee can obvious take benefit and can take audit report from CA in back date. Will there be any contravention?

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