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Penalties for Tax audit
If audit report is filed in few hours after audit due date( ie midnight of 31st Oct), is penalty is levied by the income tax officer (practically) ?
Replies (4)
Yes it will be levied @ .5% under section 271B
Yes... Penalty is applicable...
But Practically I dont hear the same by ITD in my surroundings...😂😂😇😇😇
But Practically I dont hear the same by ITD in my surroundings...😂😂😇😇😇
If you can give genuine reasons for inability to file audit report within the due date, then there are few judgements in which penalty have been waived off.
Agree with CA Parth Shah..
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