CONDONATION FOR DELAY IN FILING OF TAR

Hey Manish! Here’s how you can apply for condonation of delay in filing Tax Audit Report (TAR):

Steps to apply for Condonation of Delay for TAR Filing:

1. Identify the Delay Reason:

   • Prepare a proper explanation or reasonable cause for the delay in filing the Tax Audit Report beyond the due date.

2. File a Rectification Application / Late Filing Request:

   • Normally, for TAR under Section 44AB, you need to file your Income Tax Return (ITR) first.

   • If TAR is delayed, you can request condonation of delay by filing a written application to the Principal Commissioner/ Commissioner of Income Tax.

3. Draft an Application:

   • Address the application to the jurisdictional Income Tax Commissioner.

   • Mention your details (PAN, TAN, assessment year).

   • State the reasons for the delay honestly.

   • Request condonation of the delay and acceptance of the late-filed audit report.

4. Submit Application Along with ITR and Audit Report:

   • Attach the Tax Audit Report, the ITR, and any supporting documents.

   • Submit this application online or physically to your jurisdictional IT office.

5. Pay Penalty if Applicable:

   • The tax department may levy a penalty under Section 271B for late filing of TAR (up to ₹1,50,000).

   • Sometimes penalty may be waived if delay is condoned.

6. Follow-up with IT Authorities:

   • Keep track of your application status.

   • If approved, your late filing will be regularized.

Important:

• Always file TAR as soon as possible, even if delayed.

• The delay condonation process is discretionary and depends on the IT officer’s satisfaction.

• Sometimes, the system itself accepts the late filing with payment of a late fee under Section 234F if filing is before the extended deadline.