Rajeev, I am aware of the circular. but there is no bail out package for 271 B if you dont submit audit report before due date.

Even i am also  practicing for last couple of years, and last year in many cases the client were facing huge financial crises due to economic slowdown. They were incable of filing return as tax was not deposited. non submission of tax will land them in sec 220/221.

No idea abuot other states but in Delhi all ITO are acknowledging Audit Report.

regards

Piyush

Thanks a lot friends for ur prompt response,

But some confusion still remains abt the applicability of sec 271 B.

how would ITO impose 271 B and upon which grounds,if we  are not required to furnish tax audit report as per recent amendment.

thnx

reena jain 

i think every chartered must have the knowledge of this fact of avoiding penalties of non-audit upto 30th sep.....

and i can't disclose this because even when my principal told me this he asked me to remain silent over this issue and keep it secret as the matter of etiquettes ...

so that clients do not try to avoid tax audits anymore...as after knowing this fact client may do so.....

Reena ,

      I still believe 271B cannot be levied if ITR is not filed in time .

Piyush ,

    U suprise me ...why wud any ITO acknowledge tax audit reports when they are specifically instructed not to accept any document with the ITR .

Anuraag ,

 I guess your mystery will remain a mystery .:)

hi guys,

so far new amendment is concerned penalty u/s 271 B cant be imposed by authority .

as 271 B  penalty is related with non furnishing of tax audit report ,which is not required now.

it does not affect delay of  IT return.

delay  submission of returns attracts only interest u/s 234 A  and penalty u/s 271 F .

regards

vaibhav

Guys, new circular and amendment only state that there is no requirement to attach tax audit report with the ITR as the detail of the same is incorporated in the ITR itself.

some response are beyond shocking. when i am stating that i have dealt with the case practically, still bookish things are stated. i beleive going beyond this will be stupid, so thats the finishing line from my side.

and anurag, if you dont have to discuss anything dont mention the fact because we here wont beleive in the same.  this is like i know how to bat like sachin tendulkar but my mom says it will affect your studies.

regards

piyush

Piyush Sir ,

 out of curiousity , This year on 30/09/09 when everyone was busy efiling the returns and sending acknowledgements to Bangalore , u actually were submitting tax audit reports in the Income tax and the officers were accepting it in Delhi  ?

i m completely agree with Mr.rajeev

the content of that circular are as lelow

Hai friends, plz clarify my doubts in one case some one fellow misused ca membership no and filed ITR filed with in due date with CA Membership, that case has selected scrutiny and notice issued u/s. 271B of Income tax Act and i will concern that CA is not giving audit report it must be raised penalty for Rs. 1 Lakh and plz clarify and advised to my doubts 

Dear Reena,

Can you tell me in case of NON FURNISHING OF TAX AUDIT REPORT U/S 44 AB TILL 30 SEP 2015

Regards

Sandeep Jaswal

Thanks guys for the reference to the circular. uptill now, we were filing tax audit reports online. 

hello rajiv sir... can i file itr and audit after due date..and no panety will charge..i have a client to whom 2 yr audit is to bo required simultaniusly.. can i do without panelty.