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Late penalty notice received in audit case
Individual is partner in firm liable to audit still notice for penalty is received
Replies (9)
Even though partnership firm is under 44AB,
the due date of return filing for working partner only will be 31-10-2019.
For all other non-working partners , the due date of return filing will be 31-8-2019.
And hence late fee will be levied based on above.
the due date of return filing for working partner only will be 31-10-2019.
For all other non-working partners , the due date of return filing will be 31-8-2019.
And hence late fee will be levied based on above.
please enter capital of partner and whether the firm is liable to audit? tick yes.
rectify the X M L and file rectification apllication.
In case of audit of firm, the working partners due date is 31.10.2019( extended due date with 234A applicable for AY 2019-20).
While filing the ITR as rightly stated there must be tick on the check box that the firm is liable to audit.
While filing the ITR as rightly stated there must be tick on the check box that the firm is liable to audit.
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Yes sir.
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Hope you are doing well .
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Thank you so much.
Hope you are doing well .
It's always been a privilege to get knowledge from your experience and learnings.
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Thanks a lot sir☺️
yes I'll always try doing it.
Thanks a lot for your kind words.
yes I'll always try doing it.
Thanks a lot for your kind words.
@ Ankush
if your query related to working partner then late fee will be cancelled by CPC and fresh intimation will be issued by CPC. ( As clarified by CBDT dt 13.11.2019)
if your query related to working partner then late fee will be cancelled by CPC and fresh intimation will be issued by CPC. ( As clarified by CBDT dt 13.11.2019)
So in case of non working partner penalty will be levied?
But amount of interest etc to be credited is finalized at the time of audit.
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