Company it return filing

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Priya.M (Querist)
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01 September 2011 Company has not yet commenced operations. All the expenses are booked under preliminary exp. heads.
Is it mandatory for the company to file IT return for the yr. ended 31.03.2011?
If so, how? If not required, what is the future course of action?

vignesh

vignesh (Expert)
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01 September 2011 Dear Priya,

It is better to file the itr return, bec in ROC, the annual return should be filed within the prescribed period i.e. the AGM should be conducted within 18 months from the date of incorporation. Even though there is no business commenced it should be filed. Thus the same is applicable for the IT return also.

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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02 September 2011 As per section 139(1) of the Income tax Act,1961, corporate assessee's has to necessarily file income tax return every year irrespective of the amount of taxable income. In view of that, the said company should file income tax return for the financial year 2010-11.

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Priya.M

Priya.M (Querist)
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02 September 2011 Thank you so much!

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