Mohammad Mahtab Alam (Sr.Accountant) (69 Points)
30 May 2015
Aditya Sharma
(finance advisory)
(377 Points)
Replied 01 June 2015
YOU MUST HAVE COMPLETED THE AUDIT ALONG WITH RETURN BEFORE 30 SEP. 2014.
NOW NOTICE CAN BE ISSUED TO YOU U/S 142(1) REQUIRING YOU TO FURNISH RETURN ALONG WITH AUDIT REPORT IN FORM 3CB+ FORM 3CD.
MOREOVER PENALTY CAN BE IMPOSED U/S 271B OF THE AMOUNT EQUAL TO 0.5 % OF TOTAL TURNOVER OR RS. 1,50,000.
IF THERE IS LOSS IN THE YEAR 2013-14 THAN YOU WILL NOT BE ABLE O CARRY FORWARD IT.
MY ADVICE IS GET THEM AUDITED AND FILE THE RETURN AS SOON AS POSSIBLE WITHOUT WAITING FOR NOTICE U/S 142 (1).
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