I have a new client whose turnover is Rs. 18252364 hence covered under tax audit u/s 44AB since the date of submission of tax audit report has gone and yet his tax audit report is not submitted he will be liable to penalty u/s 276B
.
What I can do to avoid such penalty ?????
penalty can be imposed by ITO if he get noticed, you can't avoid it
it's upto Income Tax Officer (ITO), he can impose penalty if your client get noticed, and in your case you cannot avoid ITO from imposing penalty
hopefully now you can understand what i have written here
Jawahar and Associates Chartered Accountants
Hyderabad
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