Non filing of return u/s 44ad
This query is : Resolved
01 October 2011
THE INCOMETAX RETURN U/S 44AD WAS NOT UPLOADED ON LAST DAY I.E. 30TH SEPTEMBER 2011 (PROFIT CLAIMED LESS THAN 8%).
NOW WHAT IS THE REMEDY AVAILABLE FOR ESCAPING THE PENALTY.
AND CLARIFY THE AMOUNT OF PENALTY.
NOW WHAT IS THE REMEDY AVAILABLE FOR ESCAPING THE PENALTY.
AND CLARIFY THE AMOUNT OF PENALTY.
Prakash Tolani
(Expert)
02 October 2011
There is no way for escaping the penalty. Penalty is 0.5% of turnover or 1 lac.
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