It return for ay 2011-12 where 44ab applicable

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 September 2012 Dear Experts,
A Medical Practitioner has total professional receipts in Financial Year 2010-11, AY 2011-12 of more than Rs. 15 lakh. So he is covered under section 44AB. But he has not paid his dues tax and has not filed his return for the AY 2011-12.
Now under which section he can file his return and what are the penalties? Please reply, it is urgent.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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29 September 2012 File return of income according to the section 139(4). And penalty for no make audit and non filing of audit report on or before the due date as per section 139(1) i.e 30th September 2011 for your case is 0.50% of the gross turnover/receipts upto maximum of Rs.150000. However late filing and late making of audit is better to non-filing and non-making of audit. So first file the return immediately before getting notice of non-filing of return from the department then is considered as non-fraud case and the penalty and punishment will be lesser than more.

OM SAI SRI SAI JAI JAI SAI

Querist : Anonymous

Querist : Anonymous (Querist)

30 September 2012 But the case is that, he has get his accounts audited u/s 44AB within 30/09/11, but not paid his due tax and has not filed return. In this case what is penalty amount?

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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01 October 2012 As per the section 44AB tax audit according this section should be done and the audit report should be file on or before the due date as per section 139(1) otherwise penalty as i said above will be apply. By the changing of income tax return form from saral(OLD) to New ITRs tax audit report separately not required to file it also included in the ITR even though 139(4) allows to file income tax return upto one year from the end of such assessment year due to the section 44AB and the new forms of ITR return also file with the the due date of section 139(1).

Your case audit made on or before the due date u/s13(1) but audit report as well as return not filed with the such due date. So it will be consider as not filed audit report with in the due date according to the section 44AB and penalty will levy. So you already done audit before the due date of section 139(1) i.e section 44AB prescribed date also. So file the return of income now along with the tax payable if any in such return details about the audit also you have to intimate so in such fill the details regarding your audit report date etc.... AO may consider your problem and may not levy penalty if he satisfied the reason to not file.

One More thing last year nearly 10 audit cases in our office filed on 1st October and 2nd October I.e after the due date but the audit already done on or before the 3oth September but till now no assessee has received penalty notice. So Ao may not consider the date of filing of return but he may object in the case of any scrutiny assessment.

So file the return now along with tax if any payable paid now.

OM SAI SRI SAI JAI JAI SAI

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