Income Tax REturn & Tax Audit for F.Y.2018-19

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Davender Kumar (Querist)
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20 July 2020 Dear Sir

i have proprietorship registration and my business is providing the man power to couier services, my annual turnover is approx. 5 cr. my question is that what is the last date of filling income tax return for F.Y.2018-19, and also tell that i am cover under tax audit ? & what is the last date for F.Y. 2018-19.

i have also register in ESI/PF, GST, TDS.

thanks & Regards
davender

PARAS CHHAJED

PARAS CHHAJED (Expert)
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21 July 2020 You are required to get your accounts audited u/s 44AB of the Income Tax Act, 1961 by a Chartered Accountant. The last date to get audit completed and to file the audit report alongwith audited financial statements was 31.10.2019 for FY 2018-19. Audit may be completed even now and you can file your return of income for FY 2018-19 i/.e. AY 2019-20 upto 31.07.2020. Section 271B prescribes penalty @ .5% of Turnover or maximum Rs.1.50 lacs for failure to get the accounts audit and submit audit report before the prescribed date however, penalty may not be levied if there is reasonable cause

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