{"id":13961,"date":"2023-08-29T07:10:37","date_gmt":"2023-08-29T07:10:37","guid":{"rendered":"https:\/\/vibrantfinserv.com\/kb\/?p=13961"},"modified":"2024-05-02T09:26:39","modified_gmt":"2024-05-02T09:26:39","slug":"penalties-for-late-filing-of-statutory-audit","status":"publish","type":"post","link":"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/","title":{"rendered":"Are there any Penalties for Late Filing of Statutory Audit?"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-18 alignleft\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ-300x143.png\" alt=\"\" width=\"96\" height=\"46\" srcset=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ-300x143.png 300w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ.png 482w\" sizes=\"auto, (max-width: 96px) 100vw, 96px\" \/><\/p>\n<h2 style=\"text-align: center;\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Yes, there are penalties for late filing of statutory audit. The penalty depends on the amount of turnover of the entity.\\r\\n\\r\\nIf the turnover is less than Rs. 50 crores, the penalty is 0.5% of the turnover, up to a maximum of Rs. 1,50,000.\\r\\nIf the turnover is more than Rs. 50 crores, the penalty is 1% of the turnover, up to a maximum of Rs. 5,00,000.\\r\\nThe penalty is also subject to an additional penalty of Rs. 100 per day for each day of delay, up to a maximum of Rs. 1,00,000.\\r\\n\\r\\nThere are some exceptions to the penalty for late filing of statutory audit. For example, the penalty will not be levied if the delay is due to a reasonable cause, such as the death of the auditor or a natural calamity.\\r\\n\\r\\nIt is important to note that the penalty for late filing of statutory audit is in addition to any other penalties that may be imposed by the tax authorities.\\r\\n\\r\\nHere are some of the things to keep in mind to avoid penalties for late filing of statutory audit:\\r\\n\\r\\nAppoint a qualified auditor in time.\\r\\nSubmit all the necessary documents to the auditor in time.\\r\\nCoordinate with the auditor to ensure that the audit is completed on time.\\r\\nFile the audit report with the concerned authorities on time.&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:573,&quot;3&quot;:{&quot;1&quot;:0},&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;12&quot;:0}\">Penalties for Late Filing of Statutory Audit<\/span><\/h2>\n<h4><img loading=\"lazy\" decoding=\"async\" class=\"alignright\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Timeline-for-Statutory-Audit-660x575.png\" alt=\"Penalties for Late Filing of Statutory Audit\" width=\"181\" height=\"158\" \/><\/h4>\n<p>&nbsp;<\/p>\n<p><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Yes, there are penalties for late filing of statutory audit. The penalty depends on the amount of turnover of the entity.\\r\\n\\r\\nIf the turnover is less than Rs. 50 crores, the penalty is 0.5% of the turnover, up to a maximum of Rs. 1,50,000.\\r\\nIf the turnover is more than Rs. 50 crores, the penalty is 1% of the turnover, up to a maximum of Rs. 5,00,000.\\r\\nThe penalty is also subject to an additional penalty of Rs. 100 per day for each day of delay, up to a maximum of Rs. 1,00,000.\\r\\n\\r\\nThere are some exceptions to the penalty for late filing of statutory audit. For example, the penalty will not be levied if the delay is due to a reasonable cause, such as the death of the auditor or a natural calamity.\\r\\n\\r\\nIt is important to note that the penalty for late filing of statutory audit is in addition to any other penalties that may be imposed by the tax authorities.\\r\\n\\r\\nHere are some of the things to keep in mind to avoid penalties for late filing of statutory audit:\\r\\n\\r\\nAppoint a qualified auditor in time.\\r\\nSubmit all the necessary documents to the auditor in time.\\r\\nCoordinate with the auditor to ensure that the audit is completed on time.\\r\\nFile the audit report with the concerned authorities on time.&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:573,&quot;3&quot;:{&quot;1&quot;:0},&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;12&quot;:0}\">Yes, there are penalties for late filing of statutory audit. The penalty depends on the amount of turnover of the entity.<\/span><\/p>\n<p>If the turnover is less than Rs. 50 crores, the penalty is 0.5% of the turnover, up to a maximum of Rs. 1,50,000.<br \/>\nIf the turnover is more than Rs. 50 crores, the penalty is 1% of the turnover, up to a maximum of Rs. 5,00,000.<br \/>\nThe penalty is also subject to an additional penalty of Rs. 100 per day for each day of delay, up to a maximum of Rs. 1,00,000.<\/p>\n<p>There are some exceptions to the penalty for late filing of statutory audit. For example, the penalty will not be levied if the delay is due to a reasonable cause, such as the death of the auditor or a natural calamity.<\/p>\n<p>It is important to note that the penalty for late filing of statutory audit is in addition to any other penalties that may be imposed by the tax authorities.<\/p>\n<p>Here are some of the things to keep in mind to avoid penaltie for late filing of statutory audit:<\/p>\n<p>Appoint a qualified auditor in time.<br \/>\nSubmit all the necessary documents to the auditor in time.<br \/>\nCoordinate with the auditor to ensure that the audit is completed on time.<br \/>\nFile the audit report with the concerned authorities on time.<\/p>\n<p><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;For further details access our website: https:\/\/vibrantfinserv.com\\nTo visit: https:\/\/www.incometax.gov.in&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:1325571,&quot;3&quot;:{&quot;1&quot;:0},&quot;4&quot;:{&quot;1&quot;:2,&quot;2&quot;:16777215},&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:4473924},&quot;15&quot;:&quot;Ubuntu, Helvetica, Arial, sans-serif&quot;,&quot;16&quot;:11,&quot;21&quot;:1,&quot;23&quot;:1}\" data-sheets-textstyleruns=\"{&quot;1&quot;:0}\uee10{&quot;1&quot;:41,&quot;2&quot;:{&quot;2&quot;:{&quot;1&quot;:2,&quot;2&quot;:1136076},&quot;9&quot;:1}}\uee10{&quot;1&quot;:68}\uee10{&quot;1&quot;:79,&quot;2&quot;:{&quot;2&quot;:{&quot;1&quot;:2,&quot;2&quot;:1136076},&quot;9&quot;:1}}\" data-sheets-hyperlinkruns=\"{&quot;1&quot;:41,&quot;2&quot;:&quot;https:\/\/vibrantfinserv.com\/&quot;}\uee10{&quot;1&quot;:68}\uee10{&quot;1&quot;:79,&quot;2&quot;:&quot;https:\/\/www.incometax.gov.in\/&quot;}\uee10{&quot;1&quot;:107}\">For further details access our website: <a class=\"in-cell-link\" href=\"https:\/\/vibrantfinserv.com\/\" target=\"_blank\" rel=\"noopener\">https:\/\/vibrantfinserv.com<br \/>\n<\/a>To visit: <a class=\"in-cell-link\" href=\"https:\/\/www.incometax.gov.in\/\" target=\"_blank\" rel=\"noopener\">https:\/\/www.incometax.gov.in<\/a><\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-13446 aligncenter\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Tax-Audit-Process-300x158.webp\" alt=\"Tax Audit Report process\" width=\"237\" height=\"125\" srcset=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Tax-Audit-Process-300x158.webp 300w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Tax-Audit-Process-1024x538.webp 1024w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Tax-Audit-Process-768x403.webp 768w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Tax-Audit-Process-1536x806.webp 1536w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Tax-Audit-Process-660x347.webp 660w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Tax-Audit-Process-380x200.webp 380w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Tax-Audit-Process.webp 1600w\" sizes=\"auto, (max-width: 237px) 100vw, 237px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Penalties for Late Filing of Statutory Audit &nbsp; Yes, there are penalties for late filing of statutory audit. The penalty depends on the amount of turnover of the entity. If the turnover is less than Rs. 50 crores, the penalty is 0.5% of the turnover, up to a maximum of Rs. 1,50,000. If the turnover\u2026 <span class=\"read-more\"><a href=\"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/\">Read More &raquo;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":13455,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[66],"tags":[2976,2978,2977],"class_list":["post-13961","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-audit-assurance","tag-lateauditfilingpenalty","tag-auditnoncompliancepenalties","tag-statutoryauditdelayconsequences"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Penalties for Late Filing of Statutory Audit\/ Article\/ VibrantFinserv<\/title>\n<meta name=\"description\" content=\"Yes, there are penalties for late filing of statutory audit. The penalty depends on the amount of turnover of the entity. -\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Penalties for Late Filing of Statutory Audit\/ Article\/ VibrantFinserv\" \/>\n<meta property=\"og:description\" content=\"Yes, there are penalties for late filing of statutory audit. The penalty depends on the amount of turnover of the entity. -\" \/>\n<meta property=\"og:url\" content=\"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/\" \/>\n<meta property=\"og:site_name\" content=\"Knowledge Base | Vibrant Finserv\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-29T07:10:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-02T09:26:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Timeline-for-Statutory-Audit.png\" \/>\n\t<meta property=\"og:image:width\" content=\"696\" \/>\n\t<meta property=\"og:image:height\" content=\"606\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"kbadmin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"kbadmin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/\"},\"author\":{\"name\":\"kbadmin\",\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/#\/schema\/person\/51e4fe2a2fecbd55efb5d87c1afe5345\"},\"headline\":\"Are there any Penalties for Late Filing of Statutory Audit?\",\"datePublished\":\"2023-08-29T07:10:37+00:00\",\"dateModified\":\"2024-05-02T09:26:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/\"},\"wordCount\":247,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/#organization\"},\"image\":{\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Timeline-for-Statutory-Audit.png\",\"keywords\":[\"\\\"#LateAuditFilingPenalty\",\"#AuditNonCompliancePenalties\\\"\",\"#StatutoryAuditDelayConsequences\"],\"articleSection\":[\"Audit &amp; Assurance\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/\",\"url\":\"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/\",\"name\":\"Penalties for Late Filing of Statutory Audit\/ Article\/ VibrantFinserv\",\"isPartOf\":{\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Timeline-for-Statutory-Audit.png\",\"datePublished\":\"2023-08-29T07:10:37+00:00\",\"dateModified\":\"2024-05-02T09:26:39+00:00\",\"description\":\"Yes, there are penalties for late filing of statutory audit. The penalty depends on the amount of turnover of the entity. -\",\"breadcrumb\":{\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/#primaryimage\",\"url\":\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Timeline-for-Statutory-Audit.png\",\"contentUrl\":\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Timeline-for-Statutory-Audit.png\",\"width\":696,\"height\":606},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/vibrantfinserv.com\/kb\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Are there any Penalties for Late Filing of Statutory Audit?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/#website\",\"url\":\"https:\/\/vibrantfinserv.com\/kb\/\",\"name\":\"Knowledge Base | Vibrant Finserv\",\"description\":\"Your success, our passion !!\",\"publisher\":{\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/vibrantfinserv.com\/kb\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/#organization\",\"name\":\"Knowledge Base | Vibrant Finserv\",\"url\":\"https:\/\/vibrantfinserv.com\/kb\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2025\/04\/logo.jpg\",\"contentUrl\":\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2025\/04\/logo.jpg\",\"width\":200,\"height\":95,\"caption\":\"Knowledge Base | Vibrant Finserv\"},\"image\":{\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/#\/schema\/person\/51e4fe2a2fecbd55efb5d87c1afe5345\",\"name\":\"kbadmin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3a13255b04334420c1e5998f8a775bdef7b1395bf244de67e7a3e44010893e4c?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3a13255b04334420c1e5998f8a775bdef7b1395bf244de67e7a3e44010893e4c?s=96&d=mm&r=g\",\"caption\":\"kbadmin\"},\"sameAs\":[\"https:\/\/vibrantfinserv.com\/kb\"],\"url\":\"https:\/\/vibrantfinserv.com\/kb\/author\/kbadmin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Penalties for Late Filing of Statutory Audit\/ Article\/ VibrantFinserv","description":"Yes, there are penalties for late filing of statutory audit. The penalty depends on the amount of turnover of the entity. -","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/","og_locale":"en_US","og_type":"article","og_title":"Penalties for Late Filing of Statutory Audit\/ Article\/ VibrantFinserv","og_description":"Yes, there are penalties for late filing of statutory audit. The penalty depends on the amount of turnover of the entity. -","og_url":"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/","og_site_name":"Knowledge Base | Vibrant Finserv","article_published_time":"2023-08-29T07:10:37+00:00","article_modified_time":"2024-05-02T09:26:39+00:00","og_image":[{"width":696,"height":606,"url":"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Timeline-for-Statutory-Audit.png","type":"image\/png"}],"author":"kbadmin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"kbadmin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/#article","isPartOf":{"@id":"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/"},"author":{"name":"kbadmin","@id":"https:\/\/vibrantfinserv.com\/kb\/#\/schema\/person\/51e4fe2a2fecbd55efb5d87c1afe5345"},"headline":"Are there any Penalties for Late Filing of Statutory Audit?","datePublished":"2023-08-29T07:10:37+00:00","dateModified":"2024-05-02T09:26:39+00:00","mainEntityOfPage":{"@id":"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/"},"wordCount":247,"commentCount":0,"publisher":{"@id":"https:\/\/vibrantfinserv.com\/kb\/#organization"},"image":{"@id":"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/#primaryimage"},"thumbnailUrl":"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Timeline-for-Statutory-Audit.png","keywords":["\"#LateAuditFilingPenalty","#AuditNonCompliancePenalties\"","#StatutoryAuditDelayConsequences"],"articleSection":["Audit &amp; Assurance"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/","url":"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/","name":"Penalties for Late Filing of Statutory Audit\/ Article\/ VibrantFinserv","isPartOf":{"@id":"https:\/\/vibrantfinserv.com\/kb\/#website"},"primaryImageOfPage":{"@id":"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/#primaryimage"},"image":{"@id":"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/#primaryimage"},"thumbnailUrl":"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Timeline-for-Statutory-Audit.png","datePublished":"2023-08-29T07:10:37+00:00","dateModified":"2024-05-02T09:26:39+00:00","description":"Yes, there are penalties for late filing of statutory audit. The penalty depends on the amount of turnover of the entity. -","breadcrumb":{"@id":"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/#primaryimage","url":"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Timeline-for-Statutory-Audit.png","contentUrl":"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Timeline-for-Statutory-Audit.png","width":696,"height":606},{"@type":"BreadcrumbList","@id":"https:\/\/vibrantfinserv.com\/kb\/penalties-for-late-filing-of-statutory-audit\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/vibrantfinserv.com\/kb\/"},{"@type":"ListItem","position":2,"name":"Are there any Penalties for Late Filing of Statutory Audit?"}]},{"@type":"WebSite","@id":"https:\/\/vibrantfinserv.com\/kb\/#website","url":"https:\/\/vibrantfinserv.com\/kb\/","name":"Knowledge Base | Vibrant Finserv","description":"Your success, our passion !!","publisher":{"@id":"https:\/\/vibrantfinserv.com\/kb\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/vibrantfinserv.com\/kb\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/vibrantfinserv.com\/kb\/#organization","name":"Knowledge Base | Vibrant Finserv","url":"https:\/\/vibrantfinserv.com\/kb\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/vibrantfinserv.com\/kb\/#\/schema\/logo\/image\/","url":"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2025\/04\/logo.jpg","contentUrl":"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2025\/04\/logo.jpg","width":200,"height":95,"caption":"Knowledge Base | Vibrant Finserv"},"image":{"@id":"https:\/\/vibrantfinserv.com\/kb\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/vibrantfinserv.com\/kb\/#\/schema\/person\/51e4fe2a2fecbd55efb5d87c1afe5345","name":"kbadmin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/vibrantfinserv.com\/kb\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3a13255b04334420c1e5998f8a775bdef7b1395bf244de67e7a3e44010893e4c?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3a13255b04334420c1e5998f8a775bdef7b1395bf244de67e7a3e44010893e4c?s=96&d=mm&r=g","caption":"kbadmin"},"sameAs":["https:\/\/vibrantfinserv.com\/kb"],"url":"https:\/\/vibrantfinserv.com\/kb\/author\/kbadmin\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/vibrantfinserv.com\/kb\/wp-json\/wp\/v2\/posts\/13961","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vibrantfinserv.com\/kb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vibrantfinserv.com\/kb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vibrantfinserv.com\/kb\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/vibrantfinserv.com\/kb\/wp-json\/wp\/v2\/comments?post=13961"}],"version-history":[{"count":7,"href":"https:\/\/vibrantfinserv.com\/kb\/wp-json\/wp\/v2\/posts\/13961\/revisions"}],"predecessor-version":[{"id":20215,"href":"https:\/\/vibrantfinserv.com\/kb\/wp-json\/wp\/v2\/posts\/13961\/revisions\/20215"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vibrantfinserv.com\/kb\/wp-json\/wp\/v2\/media\/13455"}],"wp:attachment":[{"href":"https:\/\/vibrantfinserv.com\/kb\/wp-json\/wp\/v2\/media?parent=13961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vibrantfinserv.com\/kb\/wp-json\/wp\/v2\/categories?post=13961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vibrantfinserv.com\/kb\/wp-json\/wp\/v2\/tags?post=13961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}