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/
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