Income tax filing for section 25 company

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 March 2013 Dear Sir

we have a Company registered under section 25 of the Companies act and also registered u/s 12A of the income tax act we have a PAN number As a company. For Filing of IT returns Income tax officers told it is a company so E filing is mandatory but in case of E filing ITR 7 is not accepted

What can We Do ? give me any solution to me

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

04 March 2013 Those who are liable to file ITR-7 is required to file their return manually for that e-filing facility not available. Even though yours is company it registered undersection 25 i.e formed as trust or co-oparative society etc... so should be file in ITR-7. Explain this to the ITO and file manually.

OM SAI SRI SAI JAI JAI SAI

Querist : Anonymous

Querist : Anonymous (Querist)

04 March 2013 Thank you !

we have explained to our ITO but they Told you have a Company PAN Number so in our Database it is not accept",pls tell the solution if you have face the same prpblem it's very urgent

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

04 March 2013 Then it is the problem of you. At the time of applying to pan you have to apply pan for that as trust or co-oparative society etc... I didn't face any problem like this according to my knowledge the only one way is you have to apply for new pan under trust or society etc... and then only you have to file returns with that new pan. But problem in this case is if you already submitted this pan to any one and they make TDS and credited this pan than you have not get such credit of TDS and etc.... where you used old pan no for that case to all you have to resubmit your new pan and accordingly they have to revise their TDS returns to get the credit of tds for this PAN then only you can file return and get such credit of TDS if any. It is very big process and time taking.
If you filed with the new pan through e-filing as a company by submitting ITR-6 then you will lost all the benefits of section 25 company because such benefits not available at ITR-6.

So my suggestion is in case you not submitted your present pan no to any one or you has not any TDS credit or tax credit etc... on your old Pan then apply to the new pan as trust or co-operative society as the case and status of you.

In case if you have any tax credit with the present PAN then the only way is apply new pan and submit the new pan to all your deductors and request them to revise e-TDS returns with the new pan after revising of e-TDS then file your return of income.
According to my knowledge the only above option available. So if you are ready to use such above option then you start your process immediately otherwise please wait for other experts reply and suggestions. For that i keeping this as open query.

OM SAI SRI SAI JAI JAI SAI