13 February 2018
RESPECTED SIR, A PRACTICING FIRM OF CHARTERED ACCOUNTANTS WHOSE TURNOVER IS RS.18.00 LACS COVERED U/S 44ADA GOT THEIR ACCOUNTS AUDITED BY A CHARTERED ACCOUNTANT BEFORE THE DUE DATE AND HAS OBTAINED THE AUDIT REPORT U/S 44AB(d) FOR THE A.Y 2017-18
BUT IN THE PRESSURE OF FILING OF I.T.R OF THEIR OWN CLIENTS U/S 44AB OF THE INCOME TAX ACT , THE FIRM ITSELF FORGOT TO FILE THE ITR AND TO FURNISH THE AUDIT REPORT ONLINE FOR THE A.Y.2017-18 BEFORE THE DUE DATE i.e 30.09.2017.
THE FIRM FURNISHED THE SAID REPORT AND FILED THE ITR IN THE MONTH OF FEBRUARY 2018
14 February 2018
Penalty u/s 271B can be initiated. If initiated, seek remedy u/s 273B. But, I doubt para 2 is insufficient to prove 'reasonable cause'. for the delay.
CAclubindia
