Re:Consequences of non Filing of Return of Co & Tax Audit

This query is : Resolved 

05 October 2008 Hello ,
I want to what are the consequenses of non filing of return on 30/9/2008 of an company assesse & a propritorship concern covered under tax audit. If the audit report is signed before the due date.
Till what date we can submitt it.

05 October 2008 1

06 October 2008 If you have the tax audit report available as on 30th september 2008 in respect of accounts for 2007-08, but only you have not filed return on due date, interest on rax due if any will be applicable upto filing on or before 31st March 2009. There after penalties will also be applicable.


06 October 2008 Hi
Penalties in the sense Rs. 1Lakh

07 October 2008 i agrre with Mr.S Srinivasan

11 October 2008 Return filed after this date ll be treated as belated return and therefore cannot be revised later. Moreover if u have any losses then such losses cannot be carried forward



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