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Tax Audit extension


Ramachandran R   17 September 2019

Ramachandran R

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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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Kapadia Pravin   18 September 2019

Kapadia Pravin

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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 .

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RAJA P M ("Do the Right Thing...!!!")     18 September 2019

RAJA P M
"Do the Right Thing...!!!" 
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If tax audit case then late fee (penalty) is very high as Rs 1.5 lakhs or 0.5% of the total turn over...

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Kapadia Pravin   27 September 2019

Kapadia Pravin

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


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