Tax Audit Filled After Due date
This query is : Resolved
19 November 2007
Is an individual not filled return before the due date? is there any penalty in this case?He is a tax audit Case? Pls reply?
19 November 2007
For asst year 2007-2008 , the ta audit report is to be obtained before due date and is to be furnished as and when required by department.
20 November 2007
Though, as per section 44AB audit report is to be filed on or before due date, penalty u/s. 2B can not be levied as the Board vide its Circular No. 5 (Jul 2007)have promised that no penalty u/s. 271B shall be initiated, if the assesee obtains the audit report before the due date.
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