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Compulsory to file tax audit report

This query is : Resolved 

29 December 2011 Is it compulsory to file tax audit report
to income tax departmentas per 44ab within due date of filling income tax return u/s 139 in case of company ?

If tax audit report not filled within due date will any liabily arise to the assessee ?

30 December 2011 Now a days, since Tax Audit report details are to be given in ITR, you are not required to file report seperately.

But if you are filing ITR after due date, or not filing itr at all and you are required to gets your accounts audited,

You might have to pay 1/2% of net turnover upto maximum of Rs. 1 Lacs if you are not having any suffient reason for delay.


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