Compulsory of return filinf before 30.09.2012

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 September 2012 Dear Member,

I am confused that if 30.09.2012 is the last date of audit or it is last date of return filing. Can i also file return after 30.09.2012 in case of audit and plz also confirmed if there is any penalty in case of non filing of return before 3.09.2012

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

03 October 2012 Section 271B provides that where an assessee fails to furnish a report as required u/s 44AB, penalty shall be levied.

Section 44AB provides that the report is to be furnished by the due date of filing the return.

Section 271B read with Section 44AB makes it clear that penalty shall be levied if the audit report is not furnished by the due date of filing the return, i.e., 30th September.

Penalty will be 0.5% of turnover/gross receipts or Rs. 1,50,000 whichever is less.

Further, the assessee is NOT allowed to carry forward the business loss.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Rajat Khandelwal

Choudhary

HITESH NIRANJAN SAHU

Tax Expert Group

N.Chandrasekaran

Subscribe Now

Compulsory of return filinf before 30.09.2012

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Manager- Finance and Compliance

GST CONSULTANCY

Article Assistant

Accountant

CA Final

GST CONSULTANT