03 October 2011
IS THERE ANY GRACE PERIOD TO FILE RETURN OF AUDIT CONCERN. WHAT ARE THE CONSEQUENCES IF RETURN IS FILED AFTER DUE DATE i.e 3oth september
05 October 2011
Actually I was out of station during the last month . and my audit was pending When I asked to my chartered Accountant . He said that you can submit it by 10th October there will be no penalty.
05 October 2011
Due date was not extended, due date is 30th September only. Rs.1 Lakh or 0.5% on turnover w.e.l penalty for not obtaining audit report u/s.44AB & no filing Rs.5000 penalty. In case No loss can be carry forward to next year.