Penalty of Late Filing for Statutory
Yes, there are penalties for late filing of Statutory Audit Penalty for Printing Services. The penalty depends on the amount of time the audit is late.
- If the audit is filed after the due date but within 30 days, the penalty is ₹500 per day.
- If the audit is filed after 30 days but within 60 days, the penalty is ₹1000 per day.
- If the audit is filed after 60 days, the penalty is ₹2000 per day.
- In addition to the daily penalties, there is also a maximum penalty of ₹50,000.
The penalties are imposed by the Income Tax Department and can be enforced through legal action.
To visit: https://www.mca.gov.in/
For further details access our website: https://vibrantfinserv.com
