What is the last date for Tax Audit balance sheets for AY 2011-12. What is the penalty is submitted late. What about e-filling of INdividual/firm balancesheet. Whether mandatory from AY 2011-12
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On ITR for AY 2011-12
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30.09.2011
If the tax audit return is not filed upto 30.09.11 than penalty u/s 271B will be imposed which is 1/2% of turnover or Rs. 150000/- whichever is less. E-filing is mandatory for the firms & companies which are liable for tax audit u/s 44AB.
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