Filing of return for newly incorporated company
This query is : Resolved
SATHISHKUMAR
(Querist)
24 April 2015
Dear Members,
A company was incorporated on Feb 2014. The Business was set up during Oct 2014. Even bank acc. was also opened during Sep 2014.
My query is whether Income tax return is required to be filed for those two months?
Or Previous year commence only after setting up of business. So return need not be required to be filed. will it be correct?
A company was incorporated on Feb 2014. The Business was set up during Oct 2014. Even bank acc. was also opened during Sep 2014.
My query is whether Income tax return is required to be filed for those two months?
Or Previous year commence only after setting up of business. So return need not be required to be filed. will it be correct?
Nikhil Kaushik
(Expert)
24 April 2015
the return needs to be filed. where is it written that setting up of business is linked to filing of return?
SATHISHKUMAR
(Querist)
12 April 2016
@Nikhil Please go through the definition of "Previous Year"
Nikhil Kaushik
(Expert)
13 April 2016
would be great if you could enlighten here...not sure if something has changed in last one year!!
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