What if tar is not filed upto 30.9.2013

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seema singla (Querist)

03 October 2013 what consequences a CA as well as an assessee has to face if TAR is not filed upto 30.9.2013 and also not deposited manually with the department upto 30.9.2013 due to any reason ????

plz reply

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

03 October 2013 Then liable for penalty of 0.50% on turnover upto maximum of Rs.1.50 lacs, if the reason of delay is satisfied by the AO and there is not other way except delay of filing then he may forgo the levying of penalty.

OM SAI SRI SAI JAI JAI SAI

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)

03 October 2013 The Tax Audit Report should be obtained and furnished before 30th September. This year there was additional option to submit manually and take extension of e-filing upto 31st October. However, if you dont comply with the same, the AO may issue a show cause notice for penalty u/s 271B. However, if the assessee or CA can prove that there was a reasonable cause for not furnishing the audit report within time, then the assessee and CA can take the benefit of section 273B for not levying the penalty. According to me, the technical faults of website can be claimed reasonable clause. Even if the ITO doenst accept the reason, you can file an appeal against the penalty order.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

03 October 2013 Failure attracts penalty proceedings u/s 271B of the Income tax Act,1961.

seema singla

seema singla (Querist)

03 October 2013 thanks for the reply sir.
sir, i want to know if the penalty is to be paid by the assessee or the CA or both if leived

futher, if an assessee doesnot add the name of CA, then can CA be held responsible for that

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)

03 October 2013 In any case, primarily the penalty is applicable to be paid by the client. However, if it is at the fault of CA, he can claim it from CA but according to the Act, client has to pay it.

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