Not completed audit - can it be done now?

Others 394 views 7 replies

Hi,

A firm has not completed audit as per 44AB for FY 2017-18. This is the first time the firm is eligible for audit.

Last date for filing the belated return is 31st march 2019.

Can the audit be completed now, is there any fine to be paid?

Please advice

Thank you. 

Replies (7)

Yes, Audit Report can be filled with late fees @ .50% of Turnover subject to maximum limit of Rs. 150000.

Thanks Sir. 

Will late fee be applicable even for furnishing audit report now? 

Other wise, if audit report is not gone for, is there any consequence? 

Late Fees will be applicable even if you will file audit report now. If assessee Fails to file Audit Report then Assessee in default . 

 

Thank you. What is the result of assesee in default for failing to file audit report? Is any further fine payable ?

Assessing Officer will initiate  Scrutiny Assessment and Penal Provisions are applicable.  

Thank you. So its compulsory to get audit as per 44AB despite penalty to be paid of 0.5% turn over 

Yes.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
16 June 2026
Sr. Associate / Assistant Manager | TAS / FDD

Boutique Investment Bank & Transaction Advisory Firm

Gurgaon

CA

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details