Tax audit report due date.
This query is : Resolved
Pavan Kumar Vaddella
(Querist)
26 September 2015
Dear Sir,
Is Last date for filling Tax audit Report 30.09.2015 ? What are the consequences if it is filled after the due date ? Please reply as soon as possible
Thanks and Regards
Pavan Kumar Vaddella.
Is Last date for filling Tax audit Report 30.09.2015 ? What are the consequences if it is filled after the due date ? Please reply as soon as possible
Thanks and Regards
Pavan Kumar Vaddella.
Amol S Joglekar
(Expert)
26 September 2015
Failure to get accounts audited.
271B. If any person fails to get his accounts audited in respect of any previous year or years relevant to an assessment year or furnish a report of such audit as required under section 44AB, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum equal to one-half per cent of the total sales, turnover or gross receipts, as the case may be, in business, or of the gross receipts in profession, in such previous year or years or a sum of one hundred fifty thousand rupees, whichever is less.
271B. If any person fails to get his accounts audited in respect of any previous year or years relevant to an assessment year or furnish a report of such audit as required under section 44AB, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum equal to one-half per cent of the total sales, turnover or gross receipts, as the case may be, in business, or of the gross receipts in profession, in such previous year or years or a sum of one hundred fifty thousand rupees, whichever is less.
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