02 April 2014
we incorporated a co. in 2010, authorised share capital Rs.25Lakhs and we don't file annual return till. now plz tell me if i want to file annual returns (23A, 23ACA, 20b & F66)for Fy.2010-11, 2011-12 & 2012-13, then how much penalty we will have to pay plz reply soon
02 April 2014
Penalty for late filing in your case will be 9 times of base penalty i.e Rs. 300*9 = Rs. 2700.
Also the worst part is that each and every official and company in itself may also be fined @ Rs. 500 per day from the date of non filing of ITR. Also note this is at the sole discretion of ITO whether to put penalty or not. take help of a good CA firm. If you want i can help.