Late filing of roi.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 March 2014
I have e-filed my return of income for A.Y. 2012-13 after the due date i.e. in March, 2013. I had a taxable income of Rs. 3.06 lacs and having turnover of Rs. 3.05 crores,iIt was audited by a CA. Audit Report was not submitted earlier as there was not any provision for submission of Audit Report in physical form in IT offices. Is penalty u/s 271B liable for not furnishing the Audit Report before the due date of filing of return u/s 139(i)? Please reply with a little seriousness.
04 March 2014
the penalty under 271B is for not procuring the audit report on or before the due date under 139(1). as long as the audit report is signed on or before the due date, no penalty can be levied. you can submit the audit report to the department even after the due date under 139(1), let say even today.
04 March 2014
please refer Point 6 of the CBDT circular 5/2007 dated 26/07/2007
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
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
