Audit Delay Ramifications
Audit Delay Ramifications sure, here are the potential consequences of a delayed filing for the statutory audit pertaining to Spas & Parlor Services:
1. Penalty:
As mentioned in my knowledge, the penalty for non-compliance with the statutory audit is ₹10,000 to ₹1,00,000.
2. Loss of credibility:
A delayed filing can damage the credibility of your business and make it difficult to attract investors or customers.
3. Increased scrutiny:
The government may scrutinize your business more closely if you have a delayed filing. This could lead to audits, fines, or other penalties.
4. Legal trouble:
If you are found to have committed financial irregularities, you could face legal trouble. This could include fines, imprisonment, or both.
In addition to these consequences, a delayed filing can also make it difficult to manage your business effectively. You may have difficulty tracking your finances and making informed decisions about your business.
The statutory audit due date for Spas & Parlor Services is 30th September of the financial year. If you are unable to file your audit on time, you should contact a chartered accountant to discuss your options.
To visit: https://www.mca.gov.in/
For further details access our website: https://vibrantfinserv.com