I have filed Tax Audit Report for AY 2013-14 on 30.11.2013. My turnover is more than 10 crs. Can AO initiate the penalty for late filing of Tax Audit Report. Kindly help.
Yes proceedings can be initiated for recovery of late filing fee.
But it is a fee so it depends on AO to consider levy.
I have not seen anytime, penalty/fee levied by AO unless it is a scrutiny case.
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