I run a partnership firm and need to do Tax audit.
Whether deadline for tax audit likely to extend?
If not extended and filed after Sept 30, How many late fee or penalty charges?
thanks in advance
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Tax Audit extension
Replies (3)
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 .
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
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