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Return Processing without filing Tax Audit
if we donot file tax audit for AY 2019-20 can itr be processed for AY 2019-20
Replies (14)
Whether tax audit is mandatory for the accounts?
If yes, then it will not be processed; otherwise no problem.
gross income for professional exceeds 50L
Tax audit applicable; so return will be defective without audit report...
I have filed the return mentioned tax audit is liable but not yet audited.....if I don't file the return till 30 September then itr would be processed or not
No....
Expect notice of defective ITR ...
You immediately file revised return alongwith Tax Audit report under 44AB . Hope you don't have to pay penalty for not carrying out audit and not submitting audit report.
how much is penalty amount for not submitting tax audit report
Penalty for Non Compliance of Section 44AB
If any person falls under the section & fails to get audited of his account before the due date, then they will be liable for a penalty of 1/2% of the turnover or the gross receipts up to a maximum penalty of Rs. 1, 50,000.
If any person falls under the section & fails to get audited of his account before the due date, then they will be liable for a penalty of 1/2% of the turnover or the gross receipts up to a maximum penalty of Rs. 1, 50,000.
if we don't file tax audit report then it does not mean that IT department will treat the return as defective. it may impose fine for non filing of tax audit report
Yeah. It will definitely impose fine.
and what about return Processing
Return will not be processed until you file audit report and audited BS and P&L Account.
if audit report and audited bs and pl have to file now then why department has received itr without them. department allowed us to file itr without tax audit completion and if they don't work on that itr then it would be void.
Surely return will be invalid and the status will be failure of a) filing of return and b) failure in carrying out tax audit
And accordingly fine for both a & b above will be imposed. And AO has got other rights too.
And accordingly fine for both a & b above will be imposed. And AO has got other rights too.
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