MY GTO OF 18-19 REACHED 1.56 CRORE DURING MARCH 19.
NOW I EXPECT THAT THE GTO FOR 19-20 WILL NOT REACH UP TO 1.5 CRORE.
QUESTION:
1.IS I WILL FINED FOR 18 -19 FOR MARCH QUARTER FOR FILLING QUARTERLY RETURN?
2.MAY I OPT QUARTERLY RETURN FILE IN 19-20
PLEASE SUGGEST EARLY WITH REFERENCE OF ACT OR RULES .
1. Yes ..... but as its not demanded by portal so no need to deposit any fee .
only when proper officer scrutiny your case may demand for interest
2. No..... once your previous year turnover has been exceed 1.5 crore then you must opt for Monthly filing
2.
CAclubindia
