TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>CBDT Withdraws Circular Exempting Penalties for Late Audit Reports u/s 44AB for Assessment Year 1985-86.</h1> The Central Board of Direct Taxes (CBDT) issued a circular addressing the audit of accounts under section 44AB of the Income-tax Act, 1961, and the associated penalty under section 271B for the assessment year 1985-86. Initially, it was decided not to initiate penalty proceedings if the audit report was obtained by September 30, 1985, and the self-assessment tax was paid within the prescribed period. However, after reconsideration and consultation with the Ministry of Law, the Board decided to withdraw the previous circular that exempted penalties for late audit report submissions for that assessment year.
TaxTMI 
TaxTMI 
