Tax Audit
This query is : Resolved
26 November 2009
Respected Sirs,
I have a query regarding Tax audit:
"A client whose total turnover is Rs.89 lacs in PY and get his account audited with a Chartered Account, but he not file the return/report till now. Is he liable to paid penalty u/s 271B?"
Please suggest.
I have a query regarding Tax audit:
"A client whose total turnover is Rs.89 lacs in PY and get his account audited with a Chartered Account, but he not file the return/report till now. Is he liable to paid penalty u/s 271B?"
Please suggest.
26 November 2009
Yes penalty can be imposed by Assessing Officer if Audit Report has not been furnished as required u/S 44AB.
26 November 2009
Thanks a lot, But one more thing that "he audited the account on 23rd September 2009,and maintained proper books of account, the only thing is that he nor furnished the return timely"
26 November 2009
the penalty of non filing of tax audit report is 1 lac
26 November 2009
agree
26 November 2009
YES
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