Tax audit u/s 44AB

This query is : Resolved

Ajay Goswami (Querist)
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15 March 2010
Case Study:
Status: Employee Cooperative Stores Ltd.
1)Tax audit is requied to be done on or
before 30th September 2009 for FY 2008-09 because the Turn over is 80 Lacs.

44AB audit done on 25th Sep 2009.

2) If we file the return of Income after 30th September 2009 but before 31st March 2010

3) Whether TDS refund claim claim can be availed in this case

4) and whether any penalty is imposed under the above scenario.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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15 March 2010 3) TDS can be claimed.
4) Penalty under section 271B will be initiated.

Ajay Goswami

Ajay Goswami (Querist)
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15 March 2010 Why penalty u/s 271B be initaited.

Accounts have been audited on 25th September 2009 with auditor seal

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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15 March 2010 Because accounts should be audited and return should be filed with in the specified date in order to avoid penalty proposal.

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