INCOME TAX RETURN

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R.PADMANABHAN (Querist)
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03 April 2009 one of our client is starting a company. i heard that the name of the company bears the name as "INDIA" OR "HINDUSTHAN", the authorised capital will be less. can anyone please mail the details of the above features. Very urgent. the propsed company will be a private limited co.

sitaram

sitaram (Querist)
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03 April 2009 Incoem tax return filling compulsory under income tax act if tax payable is zero.

Pl reply.

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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03 April 2009 no it is not compulsary...
u need to file return
for companies, firms, university college...if any income is there
for others...if without giving exemption u/s 10 income is more than exemption limit
for individual and huf u need to see non agri. income

CA CS CIMA Prakash Somani

CA CS CIMA Prakash Somani (Expert)
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03 April 2009 No Its not compulsary but it is advisible to file anil return which is required for things like applying for a housing loan or visa etc.

CA Pattanayak

CA Pattanayak (Expert)
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03 April 2009 No its not compulsory. But its better to file the return with IT else they may send notice regarding non filing of return. Then you may have to inform the AO regarding the issue. Hence better to file it.

Mukund

Mukund (Expert)
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04 April 2009 IF YOUR INCOME BEFORE DEDUCTION OF CHAPTER VI IS ABOVE THE BASIC EXEPMTION LIMIT THEN YOU HAVE TO FILE I.TAX RETURN

IN CASE OF REGD.FIRM / COMPANIES IT IS COMPULERY TO FILE I T RETURN AS THERE IS NOT ANY EXEMPTION LIMIT .