If not submit fy 2010-11 riturn on due date

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 September 2011 SIR/MADAM

I WANT TO KNOW IF I CANT SUBMIT AUDIT RIPORT ON TODAY 30-09-2011 FOR FY 2010-11
WHAT IS THE PROVISION OF PENALTY OF INTEREST

30 September 2011 Dear Arun,

Tax Audit = Audit should be done and signed before 30th September.

There is no need to file tax audit report as such however the audit should be completed and signed before 30th.
Contravention = Penalty = Rs. 1 Lac

Return Filing = last date 30th September if covered under Section 44AB i.e. Tax audit.

Contravention = Interest u/s 234A,B & C if any tax is payable.
Further you will not be able to carry forward any loss of that particular year except unabsorbed depreciaiton.

Hope you will get your answers.

30 September 2011 You need not submit the audit report at the time of filing return however your audit should have done before this due date.




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