Transfer pricing and form 3ceb

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 October 2014 My company is required to file Form 3CEB under Transfer Pricing regulations. For the last two years I was away overseas and my auditor did not file 3CEB. Now the income tax authorities are after our company, even though our accounts fully conform to the requirements of Transfer Pricing Regulations. The reports for the last two years have now been filed but we are being threatened with penalties and dire consequences for late filing.
What are the penalties for late filing? Is it such a crime to delay filing a report, even though your accounts are totally accurate and no tax eveasion has happened?
Also can I report my auditor for serious lapse in his duties? If so to whom?
Thank you

Nikhil Kaushik

Nikhil Kaushik (Expert)
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16 October 2014 penalty under 271BA can be levied. but you shall get the opportunity to present your case before the penalty is levied

with regards to the auditor, you can file complaint with ICAI

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