Hi,
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
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.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
