When a company auditor resigns, he has 30 days to e-file Form ADT 3 and pay the filing fees. If he doesn't, he has to pay additional fees. Does such late submission automatically make him liable to penalty of Rs. 50, 000 which may extend to Rs. 5 lakh.
My questions:
1. Will payment of additional fees exempt from levy of penalty?
2. If penalty will be levied, regardless of payment of additional fees, who will levy it?
3. Will the auditor get an opportunity to explain the reason of delay in filing Form ADT 3 thereby reducing or diminishing the penalty?
4. Is there any other way to save the auditor from payment of such penalty?
Warm Regards
Catherine Cruze
CAclubindia
