Regarding last date of filing income tax return of audit con

This query is : Resolved 

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

04 October 2011 No there is no grace period, there is penalty of Rs. 1 Lacs or 0.5% of turnover whichever is lower.

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.


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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