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Late filing of TAR (Tax Audit Report) filing AY 20-2!

This query is : Resolved 
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(Querist)
13 January 2021 Dear Experts,
I would like to know the penalty of TAR filing after the due date(15.01.2021)
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
14 January 2021 In case of a delay in completing audit and submitting the report on time, then 0.5% of the turnover, a maximum of Rs. 1.5 lakh, has to be paid as penalty. If there is a genuine reason for delay or non-filing of audit report, then as per Section 273B, no penalty will be applicable.
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