Tax audit report after due date
Rashmi (AM) (22 Points)
13 April 2021
Can tax audit report be filed after due date. If so when the and how penalty can be paid?
4 Replies
Mujeeb Doi
(309 Points)
Replied 13 April 2021
If audit report is not filed within due date, penalty will be 0.5% of the turnover during the previous year. However, the maximum penalty cannot exceed 1,50,000/-
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 13 April 2021
The penalty that is levied on him or her is the least of the following: The tax auditor shall furnish the report in a proper manner either in Form 3CA or Form 3CB in following cases: 0.5% of the total sales or gross receipts or turnover. Rs 1,50,000
Girish Sahu
(5 Points)
Replied 13 April 2021
Yes you can, remember the penalty, but in most of the cases, practicly, penalty also not imposed
Ankit Neema
(2742 Points)
Replied 13 April 2021
.5% or 150000, whichever is lower, but practically penalty is not levied for genuine cause of delay
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