Ribhu (Consultant) (24 Points)
22 May 2015Hi,
I have an LLP which is dormant for quite sometime now. I opened it in 2011 and did not do any work for / in it since then. I didnt realize that filing of tax is mandatory for this LLP every year and hence I did not file any tax tll now for that (2015). I recently recieved a notice that I have to submit a penalty of INR 4-5 lacs with my LLP's ITR. Is there any way out? Can this fine be excempted or reduced by any means now? What can I do to get exempted from this? Please suggest.
Thanks
Sudhanshu
(article)
(62 Points)
Replied 23 May 2015
file ITR of LLP for F. Y 2013-14 and 2014-15 now.
Go to department for hearing on the date mention in the notice.
Take copies of
1. ITR V for F.Y 2013-14 and 2014-15.
2. bank statements of all bank a/c of LLP from the date of opening.
3. books of a/cs.
and tell them their is no operation in LLP and request them to wave the panalty.
They defenitely wave it or atleast reduce it.
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