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Tax audit report
Direct Taxation
The company has not submitted tax audit report yet for FY 2019-20. What is the last date we can submit the belated report for the above FY along with penalty...? Can we submit even after end of FY 2019-20..?
Answers (5)
A taxpayer has to obtain the audit report on or before 30th September of the relevant Assessment Year. Due to COVID, for FY 2019-20, the due date for submitting the audit report was initially extended to 31st December 2020. Which is further extended by the government has also extended the date of furnishing the tax audit report to January 15, 2021
Sudha Reddy
A taxpayer has to obtain the audit report on or before 30th September of the relevant Assessment Year. Due to COVID, for FY 2019-20, the due date for submitting the audit report was initially extended to 31st December 2020. Which is further extended by the government has also extended the date of furnishing the tax audit report to January 15, 2021
But my query is - whether tax audit report (Form 3CB & 3CD) can be submitted after 31st March 2021 with late fees or penalty..??
Thread Starter
Nayan KumarBut my query is - whether tax audit report (Form 3CB & 3CD) can be submitted after 31st March 2021 with late fees or penalty..??
Yes. If a taxpayer who is liable to get a tax audit done but defaults in doing so, a penalty is charged on the taxpayer. The penalty that is levied on him or her is the least of the following: (i) 0.5% of the total sales or gross receipts or turnover (ii) Rs 1,50,000
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