Income tax return due date in case of tax audits

This query is : Resolved

N.Venkatachalam (Querist)
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17 September 2014 The time for obtaining and filing the Tax Audit Reports U/s 44AB of the Income Tax Act for the AY-2014-15 has been extended till 30th Nov-2014 from 30th Sep-2014. But about the Income Tax return nothing is said now what is the due date for filing the IT return as we have state the Audit Report date in IT Return.

And also if the return is filed after 30th Sept-2014 what are the penal consequences.

Please suggest us at the earliest.

CA Mohit Bansal

CA Mohit Bansal (Expert)
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17 September 2014 The due date of filing a return is not extended hence it would be 30.09 only.
The consequences of late filing would be following:
1) You wont be able to C/F losses if any
2) Additional interest u/s 234A would be levied on net tax payable if any
3) You wont be able to revise the return if any mistakes or gaps found in original return