filing ITR

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Querist : Anonymous

Querist : Anonymous (Querist)

08 March 2011 a pvt ltd company incorporated in Jan 2010 and started commercial operations in Feb 2011. the Company chooses to not to file ITR for FY ended 31st March 2010? what are the consequences?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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08 March 2011 Income return filing for the financial year ended on 31/03/2010 is mandatory for the said company by virtue of section 139(1) of the Income tax Act,1961. Failure to do so will attract penalty u/s 271F of the above said act.

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