What is the sense of tax audit u/s 44ab/44ad due date?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2011 Dear experts

Please clarify "what is the sense of Tax Audit due date with reference to due date of filling ITR U/s 139 as even after passing the due date auditor may sign the Audit Report back dated and file the ITR before the end of the assessment year i.e before 31st march 2011"??????

This procedure is adopting my many Auditors which is killing the quality, dignity of the CA profession.

Why there is no restriction on the Auditor to submit information about the Tax Audit conducted upto 30th Sept, 2011 so that they cant sigh the Audit Report back dated thereafter.

Please explain me the implication of the above matter in detail with suggestion.

Very thanks in advance

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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18 September 2011 Hello bhai your question is very nice
please note this as per section 44AB Tax audit should be complete on or before 30th September and incase an assessee not in a position to file income tax return on or before that date he should be file Tax audit report on or before such due date.You now even-though due dates specified u/s139(1) for filling income tax return as per section 139(4) returns are also valid. so that time so many auditors file the audit report on or before such due date and the assessee not in default to act. But now a days ITRs introduced and all enclosures avoided and all the enclosure related information is also included in that ITRs including Tax audit report details. So now an assessee should file income tax return on or before 30th September (even though there is time to file return as per section 139(4) due to the filling of tax audit report with in due date should be file income tax return on or before such due date) if the assessee fails he would be default to the act liable to punishment. Even though auditors filling inomce tax returns after September 30th as tax audit report dated before 30th September the assessee considers default to the act due to non filling of Tax audit report with in the due date. It is loss to the assessee(penalty 5% on turnover upto Rs.one lac) but the auditor is safe auditor requires money please i don't like to comment on auditors. BUT KEEP MIND SOME AUDITORS ARE FAVORABLE TO ASSESSEES THEY FILES INCOME TAX RETURNS WITH IN DUE DATE AND LIKE TO ISSUEE BACK DATED REPORTS.
IF I AM WRONG PLEASE CORRECT ME.
OM SAI SRI SAI JAI JAI SAI.

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