Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2019 Year 2019 This

Penalty u/s 271B - failure to get the accounts audited u/s 44AB ...

Income Tax

June 24, 2019

Penalty u/s 271B - failure to get the accounts audited u/s 44AB - It is the mandatory obligation of the assessee to get the accounts audited and submit the Audit report before the due date. The illiteracy or ignorance of the partners is not a sufficient reason.

View Source

 


 

You may also like:

  1. Penalty levied u/s 271B - failure to get accounts audited u/s 44AB - books of account and other relevant documents were destroyed by natural calamity, i.e. flood - No penalty

  2. Levy of penalty u/s 271B – Delay in getting and furnished Tax Audit report - delay in completion of statutory audit was reasonable cause for non-compliance with section...

  3. Penalty u/s 271B - Failure to get its accounts audited or submitted before due date - contention that the accountant was on leave during the relevat period - penalty confirmed - HC

  4. Penalty U/s 271B - Failure to get accounts audited - Penalty confirmed - AT

  5. Penalty order u/s. 271B - tax audit report U/s. 44AB - Assessee has wrongly uploaded the Form 3CD by selecting the earlier AY 2016- 17 instead of selecting the AY...

  6. Penalty u/s 271B - in absence of maintenance of books of account, question to get accounts audited u/s 44AB doesn't arise - No penalty

  7. Penalty u/s 271B - threshold limit for getting its account audited u/s 44AB - Business activity or professional activity - gross receipts were only ₹ 42 lakhs -...

  8. Penalty u/s 271B - delay in completion of statutory audit was reasonable cause for non- compliance with section 44AB - penalty cancelled - AT

  9. Penalty levied u/s 271B - assessee not got her accounts audited u/s 44AB - The assessee follows project completion method. Therefore, the claim of the assessee was that...

  10. Penalty u/s 271B - failure to get accounts audited - for technical and venial breach on the part of Chartered Accountant of the assessee, the assessee cannot be penalized

 

Quick Updates:Latest Updates