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This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 May 2010
i was liable to tax audit for P.Y. 2008-2009 but i did not file my income tax return and not get audited my a/c's
what to do now?
what to do now?
Aditya Maheshwari
(Expert)
08 May 2010
File ur return immediately along with tax audit report. penalty can be levied by the A. O. u/s 271B a sum equal to one-half per cent of the total sales, turnover or gross receipts, as the case may be, whichever is less. However u can give a reason for why tax audit was not done on time and if it a reasonable cause then penalty may not be levied.
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