written off the penalty for companies which have turnover 50

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manish (Querist)

08 March 2010 anyone can tell me about the budget that the pvt ltd which was not filed the returns from last 5years. now is there any clause comes in new budget for filing the same without any penalty impose on it.

C A GROUP COACHING

C A GROUP COACHING (Expert)

08 March 2010 No such provision has waiving any penalty or any amnesty come
Appx bydget should be around 50K

manish

manish (Querist)

08 March 2010 explain it plz.. my client said that there is a clause in this budget. how way i do to handle my client?

manish

manish (Querist)

08 March 2010 actually he is the director of pvt ltd and they didnot file any return from last 6 years when the co form. so now we have to file the return but now he said that there is a ca who said that in this budget there is a clause comes which shows that the penalty on this kind of happens are waived which have the turnover above 50Lacs.
So i have to ask you that is there any clause in this budget or not?
Plz give the answer on the basis of evidence. plz it's because this is for my clientage.?

manish

manish (Querist)

08 March 2010 Plz help me! it's urgent

C A GROUP COACHING

C A GROUP COACHING (Expert)

09 March 2010 Mr Manish
Any such provisions coming any where means an amnesty scheme.& atleast I dont remember hearing or reading any such scheme in this budget. However if your client says such keeping some CAs name for giving such opinion then very Humbly & respectfully ask your client to procure a copy of such announcement, Else you can take a budget copy & read it in details & then once you have read it show it to your client

manish

manish (Querist)

10 March 2010 I already read out the budget and even unable to find out the same topic. he is damn sure and said he ll send the copy of announcement but he may want time.
i hope i ll be right

C A GROUP COACHING

C A GROUP COACHING (Expert)

10 March 2010 Now in my opinion, your clients so said CA would just making assumptions or wrong interpretation of Budget, else it is a practice & habit of many CAs just to take up a new clients assignment & enter a client they make wrong quotes but which are suitable to the clients showing them Money saving ways over other CAs & trying to prove that he is superior in updated knowledge to the existing CA. & when it comes to produce documentary evidence to substantiate their stand they have a reply the " I am Damn Sure but to get the doc evidence I require Time" If he is sure & have read it then why dont he go thru the budget & take an extract of it & give it to you. Enough now Manish you are smart to understand the trick & plan of the other CA. However you can again ask him after 2 - 3 days for the provision of the budget

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