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Tax audit report

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..?


Nayan Kumar

Nayan Kumar

CA Inter

0

24-Mar-21 05:30

27

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

sudha reddy

Moderator

24-Mar-21 10:31

You can submit within 31st March 2021 with late filing charges. Total income upto 5 lakh - late fee Rs.1000 Total income morethan 5 lakh-late fee Rs.10000


BALAMURALI UNNITHAN M S

BALAMURALI UNNITHAN M S

CA Inter

2K+

24-Mar-21 23:34

31st March is the final date , due to covid CBDT changes several dates , if 31st March extended , you can otherwise you cannot.


BALAMURALI UNNITHAN M S

BALAMURALI UNNITHAN M S

CA Inter

2K+

25-Mar-21 08:21

But 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


sudha reddy

sudha reddy

Moderator

25-Mar-21 12:06

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