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Regarding last date of filing income tax return of audit con

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(Querist)
03 October 2011 IS THERE ANY GRACE PERIOD TO FILE RETURN
OF AUDIT CONCERN.
WHAT ARE THE CONSEQUENCES IF RETURN IS FILED AFTER DUE DATE i.e 3oth september
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Prakash Tolani

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Prakash Tolani (Expert)
04 October 2011 No there is no grace period, there is penalty of Rs. 1 Lacs or 0.5% of turnover whichever is lower.
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ANIL KUMAR.

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ANIL KUMAR. (Querist)
05 October 2011 Actually I was out of station during the last month . and my audit was pending When I asked to my chartered Accountant . He said that you can submit it by 10th October
there will be no penalty.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
05 October 2011 Due date was not extended, due date is 30th September only. Rs.1 Lakh or 0.5% on turnover w.e.l penalty for not obtaining audit report u/s.44AB & no filing Rs.5000 penalty. In case No loss can be carry forward to next year.
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