Penalty

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 September 2011 Filing returns of partnership firm and those of partners has been delayed by nearly by nearly a year. What would be the penalty.

Pragnesh

Pragnesh (Expert)
Follow

24 September 2011 1. If assessee convered under Tax audit then : 0.5% of total sales, turnover or gross receipts, or Rs. 1,50,000 whichever is less

2. If assessee not convered under tax audit : Rs. 5000/-

Note : Current year's business loss will not allowed for c/f. in both the case.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok