A proprietorship firm having its turnover of Rs. 7,66,83,170/- for A.Y. 2010-11. Its Tax Audit is very well performed, but due to misunderstanding its return is submitted physically inspite of e-filing on 15/06/2010. Now I am doing its Tax Audit for A.Y. 2011-12. I am shocked after knowing the fact that it had not e-filed its return for AY 10-11. Sir please tell me what are the consequenses for this and how to overcome such default. And whether it shall be treated as a default of Non-auditing for AY 10-11 or for non submittion of ITR. Waiting anxiously...
31 May 2011
The notification no. 49 has been published on 09-07-2010, and has been made effective from the date of its publication in the official Gazette.
Pl. Refer Rule 12 and confirm the date from when --compulsory e-filing for prop. firms has come into effect.
In my view, the assessee has discharged his responsibility well as he has filed his return prior to the notification.
Please follow the link - https://www.caclubindia.com/notice_circulars/-income-tax-seventh-amendment-rules-2010-amendment-in-rule-12--3488.asp