Partnership firm
This query is : Resolved
gaurav gupta
(Querist)
04 June 2015
my partnership firm has sale of 40 lakh rupees but its has only 800 rupees profit. Do i need to do audit of my firm? Please explain
Nikhil Kaushik
(Expert)
04 June 2015
yes. if it is liable to get the audit done
gaurav gupta
(Querist)
04 June 2015
but i filed my return manual and i didnt conduct audit for a.y 2014-15. What to do now?
Nikhil Kaushik
(Expert)
04 June 2015
file the audit report online and file the return too.
and submit an application to the AO stating the facts including for filing of online audit report and return as per rule 12 of the income-tax rules
and submit an application to the AO stating the facts including for filing of online audit report and return as per rule 12 of the income-tax rules
gaurav gupta
(Querist)
04 June 2015
Isnt it attract penalty of not filling audit
Nikhil Kaushik
(Expert)
04 June 2015
that penalty can still be levied even now!
gaurav gupta
(Querist)
04 June 2015
Is there any other solution to skip penalty
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