Tax Audit extension

Chances of extension are good but still it's a risk Wait for a week for any development /announcement

Penalty that is late fee depends upon total income upto 5 lakhs = Rs 1000 and above 5 lakhs = 5000/-
(if filed before 31-12-2019 )
And after that 5000/- becomes 10000/- upto 31-3-2000.

For late filing of Audit report under 44AB , high penalty is there .

If tax audit case then late fee (penalty) is very high as Rs 1.5 lakhs or 0.5% of the total turn over...

Date extended till 31-10-2019 for ITR and Tax Audit Report