It filing of partnership firm

This query is : Resolved

Jayaram M Sagar (Querist)
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12 May 2012 a partnership firm with turnover of more than 1 crores in each year for F.Y.2009-10& also in F.Y.2010-11 with TDS credit U/S194C has not yet filed Tax Audit, Income tax return for both years. Kindly Advice us

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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24 May 2012 Return for FY 2009-10 is time barred and cannot be filed.

Return for FY 2010-11 can be filed upto 31.03.2013 but penalty of Rs. 5,000 may be levied u/s 271F.

Penalty u/s 271B shall be levied for failure to get acciunts audited.