Jinesh Aggarwal (Service Man) (45 Points)
22 September 2011Dear Frnds,
The tounover of the compnay is more then 60 Lakhs and has been completed its tax Audit.
Please suggest me the panalty with reference of section in case company nither file income tax return on of before the due date not deposite tax on return income. ( i.e. Panalty in case of late filling of income tax return where tax audit has been done.)
Prajakta
(article)
(31 Points)
Replied 22 September 2011
if audit report has been signed before 30.9.2011 that is enough, you can file return late
Prajakta
(article)
(31 Points)
Replied 22 September 2011
if audit report has been signed before 30.9.2011 that is enough, you can file return late
Mihir
(Wealth Manager)
(5293 Points)
Replied 22 September 2011
Try to file before 30th September 2011 even if the return is not accurate. You can always revise it later. But if you file belated return, you cannot revise it. Not to mention, the carry foward loss of the previous year will not be available.
Harish
(CA Final)
(25 Points)
Replied 07 October 2011
ROI is to be filed on or before sep 30......
if it is not filed....a belated return can be filed at any time before the end of 1 year from the end of relevent assessment year or before the completion of assessment which ever is earlier....
return filed after completion of assessment is not valid...[as per sec 139(4) ].....
:)
CAclubindia
