18 August 2012
One of my client has gross receipt of more than 1crore in Previous year 20010-11 and it also got its Books of Accounts audited but unfortunately could not file its return till date. What may be the penalty ? Whether it is covered u/s 271F
19 August 2012
Yes it covered under section 271F, if caught. You can advise him to file now and seek condonation voluntarily rather then waiting for notice.
CAclubindia
