banner_ad

Failure to file itr in tax audit case

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
10 June 2013 Assesse received a contact value of Rs. 85,00,000/- and an amount of Rs. 1,50,000/- was deducted as T.D.S. After getting the accounts audited u/s 44AB, assessee could not submit his Income Tax Return for the A.Y. 12 - 13 upto 30th September, 2012 which is still pending. What is the remedy available to assessee now?
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
11 June 2013 Income tax return can be filed now. Penalty proceedings can be initiated u/s 271B. If so, seek relief u/s 273B by showing a reasonable cause for the failure to file return in time.
Profile Image

Prakash Kochar

Profile Image

Prakash Kochar (Expert)
11 June 2013 For failure to file return on or before 31 March 2012 (in this case)penalty attracts u/s. 271F but not u/s. 271B.
If the audit is completed and report is signed by auditor before due date prescribed u/s. 139(1), no penalty will attract u/s. 271B.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
09 May 2026
Audit Manager

Kanna and Associates

Coimbatore

CA Inter

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details