tax audit
This query is : Resolved
kaushal vijaywargiya
(Querist)
13 August 2010
Sir
if i do not submitted my tax audit report and return before 30th sep . in this case how much penalty will charge by income tax department.may i submite my tax audit report and return after 30 th sep without any penalty
kaushal
if i do not submitted my tax audit report and return before 30th sep . in this case how much penalty will charge by income tax department.may i submite my tax audit report and return after 30 th sep without any penalty
kaushal
CA Sanat Pyne
(Expert)
13 August 2010
1/2 % OF TURNOVER OR RS. 100000 WHICHEVER IS LOWER FOR TAX AUDIT.
RS. 5000 FOR NON FILING OF RETURN.
RS. 5000 FOR NON FILING OF RETURN.
13 August 2010
You may submit the return and report without paying penalty. Penalty need to be paid only after receiving proposal followed by order.
Shudhanshu Agrawal
(Expert)
13 August 2010
With the Finance Act 2010 the limit of penalty u/s 271B has been enhanced from 1,00,000 to 1,50,000 from 01-04-2011 i.e. from A.Y. 2011-12 onwards. However, for the current A.Y. 2010-11 penalty will be resticted to 1,00,000 as mentioned by Mr. Sanat Pyne
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
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
