Due date for filing of return for A.Y. 2007-08
This query is : Resolved
26 April 2010
Please Guide...
Is penalty leviable u/s 271B in following case???
The Non-corporate Assessee got his account audited u/s 44AB before 31st Oct, 2007 but filed his return along with tax audit report on 2nd November, 2007.
Due date for filing of return for A.Y. 2007-08 was extended for 2 days,
i.e. from 31st October 2007 to 2nd November 2007.
Vide press release No. 402/92/2006-MC(46 of 2007) and CBDT circular No. F.No. 225/147/2007-ITA-II(Pt.)
Is penalty leviable u/s 271B in following case???
The Non-corporate Assessee got his account audited u/s 44AB before 31st Oct, 2007 but filed his return along with tax audit report on 2nd November, 2007.
Due date for filing of return for A.Y. 2007-08 was extended for 2 days,
i.e. from 31st October 2007 to 2nd November 2007.
Vide press release No. 402/92/2006-MC(46 of 2007) and CBDT circular No. F.No. 225/147/2007-ITA-II(Pt.)
26 April 2010
No since the due date itself was extended to 02.11.2007 no penalty can be levied u/s 271B
26 April 2010
Thanks for your reply.
in the notification in 1st part extention is mention only about retuns and not for the reports (for physical format). and in 2nd part it mention both returns and reports (for electronic format).
Assessee has filed returns and reports as physical format.
so can AO take stand that extention is only for retuns and not for the reports.
in the notification in 1st part extention is mention only about retuns and not for the reports (for physical format). and in 2nd part it mention both returns and reports (for electronic format).
Assessee has filed returns and reports as physical format.
so can AO take stand that extention is only for retuns and not for the reports.
26 April 2010
Since accounts audited u/s 44AB before 31.10.2007 no problem still. So audit could be completed by 31.10 and return can be submitted by 02.11
27 April 2010
thanks for your guidence.
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