Not completed audit - can it be done now?

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.