This article loses its value on account of amendment vide Finance Act 2018 by which the new insertion in section 12A was made “(ba) the person in receipt of the income has furnished the return of income for the previous year in accordance with the provisions of sub-section (4A) of section 139, within the time allowed under that section.]
A trust or institution or society registered for tax exemption under section 12AA needs to get its accounts audited if the total income is more than the exemption limit. It was previously posted that the rules about filing of audit report along with tax return in Form 10B is held by Courts as directory and not mandatory. But, the filing of Form 10B is mandatory before the assessment order is passed by the A.O . However, this post is examining if the audit certificate in Form 10B can be obtained after the due date of filing the return. In other words, whether an audit report can be signed after the due date and submitted before assessment to the A.O ?