Penalty
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 September 2011
SIR,
1)WHAT ARE THE PENALTY IF AUDIT WAS NOT DONE ON TIME.
AND
2)ALSO FOR IF AUDIT ON TIME AND RETURN NOT FILED ON TIME.
1)WHAT ARE THE PENALTY IF AUDIT WAS NOT DONE ON TIME.
AND
2)ALSO FOR IF AUDIT ON TIME AND RETURN NOT FILED ON TIME.
18 September 2011
For audit not done or audit report not filled on time penalty is 5% on Gross turnover maximum of one lac rupees.
Due to the introduction of ITRs filling of audit report on time and non filling of income tax return question doesn't arise because tax audit return submission included in the ITR form. In case any chance like to your question(at the time of SARAL this type of procedure is possible) then no penalty would be livable.
OM SAI SRI SAI JAI JAI SAI
Due to the introduction of ITRs filling of audit report on time and non filling of income tax return question doesn't arise because tax audit return submission included in the ITR form. In case any chance like to your question(at the time of SARAL this type of procedure is possible) then no penalty would be livable.
OM SAI SRI SAI JAI JAI SAI
Message likes :
2 times
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
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Refund of 20%pre-deposit paid for stay application
- TDS Challan Code
- Relief u/s Section 89
- Nomination of Bank for refund in itr 2
- Rent lease agreement
- Supply through E-commerce Operators
- Merchant Export Accounting
- 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
