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Tax audit report after due date
Can tax audit report be filed after due date. If so when the and how penalty can be paid?
Replies (4)
If audit report is not filed within due date, penalty will be 0.5% of the turnover during the previous year. However, the maximum penalty cannot exceed 1,50,000/-
The penalty that is levied on him or her is the least of the following: The tax auditor shall furnish the report in a proper manner either in Form 3CA or Form 3CB in following cases: 0.5% of the total sales or gross receipts or turnover. Rs 1,50,000
Yes you can, remember the penalty, but in most of the cases, practicly, penalty also not imposed
.5% or 150000, whichever is lower, but practically penalty is not levied for genuine cause of delay
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