Can a company (liable for 44AB audit) file income tax return without getting its accounts audited?
Ashok kumar
(CA Final)
(587 Points)
Replied 25 August 2011
s u can, file but after the books of accounts audited the revised return should be filed.
CA. Rashi Goyal
(Chartered Accountant)
(512 Points)
Replied 25 August 2011
ITR 4 requires details of audit information to be provided. If section 44AB is applicable than it is manadatory to fill in details therein, which also requires the date of audit report to be mentioned.
In my opinion without getting the audit complete the ITR cannot be filed.
CHIRAG DEEPAK GANATRA
(CA FINAL)
(1054 Points)
Replied 25 August 2011
if you are liable for 44AB then you have to submit your balance sheet,
so it is not advaisable to file your return before AUDIT
Richa Rai
(C.A. Final)
(66 Points)
Replied 26 August 2011
Audit has to be done first in case of liable for tax audit, only then u can file income tax return...
SBA MOHAMMED AZHARUDEEN
(Traineee - Finance)
(23 Points)
Replied 26 August 2011
If the assessee fails to get the books of accounts audited, penalty would be levied at the rate of 0.5% of turnover or one lac whichever is lower.
TARUN
(ARTICLE ASSISTANT)
(40 Points)
Replied 01 September 2011
U HV TO GET AUDITED FIRST THEN ONLY FILE THE RETURN... CZ U HV ANNEXED THE AUDITED BALANCESHEET WHICH IS FINAL. ND U CANT ALTER IT AFTER FILLING..
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