Notice U/s. 271B - Non Submission of TAR

[AMRISH PATEL]

Dear All,

I have received Notice U/s. 271/B for non Submission of TAR of A Y 2013-14. Actually, the TAR was forgot to Submit online. What is remedy or Submission against the Said Notice? Whether penalty is Compulsory or it may be waived? Whether ITO has any power to reduce the penalty?

[DR.MARIAPPAN GOVINDARAJAN]

You may give reply to the notice attaching the tax audit report and inform the circumstances that led to non filing of the same and pray for waiver of penalty.

AI Summary

Penalty for non submission of tax audit report can be opposed by filing the report with explanation and requesting waiver. The taxpayer received a penalty notice for non submission of the Tax Audit Report. The advised remedy is to file the omitted report, provide a written explanation of circumstances causing the delay, and request waiver or reduction of the penalty from the assessing officer when submitting the reply.