Not done his audit and not file the income tax return
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 May 2015
Sir,
I want to know that if a pvt ltd co. unable to file his income tax return & not doing his audit since date of corporation.than what will the department do at this point.please clarify.
I want to know that if a pvt ltd co. unable to file his income tax return & not doing his audit since date of corporation.than what will the department do at this point.please clarify.
Nikhil Kaushik
(Expert)
25 May 2015
there are penalties for not filing the tax return. Refer section 271, 271F, 272A, 276CC.
whether audit under income-tax is applicable or not shall depend on turnover, if audit is applicable, then 271B penalty can be levied.
further penalties under companies act are separate for non-audit and roc filings.
whether audit under income-tax is applicable or not shall depend on turnover, if audit is applicable, then 271B penalty can be levied.
further penalties under companies act are separate for non-audit and roc filings.
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