IT return of an Individual

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Abhilash chandra (Querist)
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06 December 2010 Dear Mr. Sanat Pyne ! Actually the case related to the A. Y. 10-11. Assessee's accounts has not been audited & not filed before 15-10-10( Due Date). it is a matter of Tax Audit since the turnover is around Rs.2 crores. Rs 1laks penalty is for what ?
Non audit or not filing of IT Return. If audit has been done before due date & return has not been filed , then what is the Penalty?

CA Sanat Pyne

CA Sanat Pyne (Expert)
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06 December 2010 for non audit Penalty u/s 271B will be levid.

if audit has been done and you will file the return within 31.03.2011,then there will be no penalty.

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