Filing of return of income

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CA MANOJ KUMAR JAIN (Querist)
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26 April 2012 whether it is mandatory for filing return of a pvt. ltd. co. if registration is done in last year but no transaction has been done in last year and no bank account also opened.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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26 April 2012 As per the IT Act whose gross total income exceeds the basic exemption limit should be file their income tax return. For the case of companies basic exemption limit is 0(ZERO) so each and every company which has income should be file income tax return. In your case if the gross total income is NIL then no need to file income tax return.
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