Filing of itr
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 November 2011
We are known that
filing of Income tax returns is with a last date of 30th Sep for a corporate entity...
Pl. advise
a) the consequence in case the returns is not filed on or before 30th sep.
b) Can the company file a return before 31st Mar.
c) what in case the company is at loss
d) what in case the company is at profit.
Experts. pl advise
filing of Income tax returns is with a last date of 30th Sep for a corporate entity...
Pl. advise
a) the consequence in case the returns is not filed on or before 30th sep.
b) Can the company file a return before 31st Mar.
c) what in case the company is at loss
d) what in case the company is at profit.
Experts. pl advise
03 November 2011
Whether company has loss or profit, compusorily required to file ITR u/s 139(1)
You can file return before 31st march with payment of interest(1% per month)(in case company has profit).It is treated as belated return u/s 139(4)
In case of loss no interest liability.
You can file return before 31st march with payment of interest(1% per month)(in case company has profit).It is treated as belated return u/s 139(4)
In case of loss no interest liability.
CA Anshu Agarwal
(Expert)
04 November 2011
if the company is required to get his accounts audited u/s 44AB, and return is not filed upto 30th september of the A.Y. then a penalty u/s 271B may be levied.
The company has to file the return latest by the end of the A.Y., otherwise, penalty u/s 271F may be levied.
in case company is in loss, it cannot carry forward the loss of the relevant previous year.
in case company is in profit, interest u/s 234A shall be levied.
The company has to file the return latest by the end of the A.Y., otherwise, penalty u/s 271F may be levied.
in case company is in loss, it cannot carry forward the loss of the relevant previous year.
in case company is in profit, interest u/s 234A shall be levied.
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