Late filing of audit report
This query is : Resolved
17 December 2011
Dear Sir,
co-operative society has done audit of F.Y 09-10 on dated 22-03-2011 i.e. after due date .Reason of delay audit told that their statutory audit under maharashtra state co op. society act of f.y 09-10 conducted late and statutory audit report received on 16-03-2011, hence tax audit was conducted late. Now whether they are liable for penalty for late audit or Is there any remedy.
Plz guide.
co-operative society has done audit of F.Y 09-10 on dated 22-03-2011 i.e. after due date .Reason of delay audit told that their statutory audit under maharashtra state co op. society act of f.y 09-10 conducted late and statutory audit report received on 16-03-2011, hence tax audit was conducted late. Now whether they are liable for penalty for late audit or Is there any remedy.
Plz guide.
18 December 2011
Penalty U/s 271B may be levied by the AO but if sufficient reasons of delay makes him satisfied , he may not levy any penalty.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Putting a heading on received mail
- Reprocessing of rectification order AY 2025-26
- Consolidated financials
- Section 50-fixed asset-->building ceases to exist
- TDS on TRUST
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
