01 November 2019
For a firm having turnover of Rs. 25lakhs and net loss of Rs. 3 lakhs, 3CD report could not be uploaded within due date, i.e 31st Oct. Kindly clarify whether 0.5% penalty would be applicable in this case or not ?
Since the turnover is below 1crore, will there be order to pay the penalty ?
02 November 2019
Was there statutory requirement for tax audit? If not, you were not supposed to file 3CD right! Penalty of 1/2% is for non compliance to Section 44AB and if that section is not applicable, no penalty.
CAclubindia
