Income tax return

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This query is : Resolved

Sahil Agrawal (Querist)

02 September 2012 One of the My Client having tax audit u/s 44AB did not submit his income tax return for assessment year 2010-11. He jas a Private Limited Co. And also a proprietorship concern.But He Audit his books of Account within due date of the act...

I want to know whether any problem arise for non submitting of Return for said assessment year and also want to know whether he submitt the Return for A.Y 11-12 without submitt the Return of Return of A.y-10-11

If IT Return of Pvt Ltd Co..Not submitted for the above assessment year...can we comply with ROC formalities

baijnath agarwal

baijnath agarwal (Expert)

02 September 2012 In companies act it is no where necessary to file income tax returns, it talks about tax audit report, which can be taken and filed but for income tax purpose the company should file it returns mandatory although a nil return with that u have to tax audit report. so at-least file the return for AY 11-12 for it purpose and ask the AO for the return not submitted for AY 10-11

Soumitra Basu

Soumitra Basu (Expert)

02 September 2012 You should submit accounts, annual return to ROC in MSA21 portal for the Financial Year 2009-10 & 2010-11 along with the late fees.
Regarding income tax return for the assessment year 2010-11 you should write a letter to the AO requesting him to issue notice u/s. 148 of the ITAct.
The ROI for the assessment year 2011-12 can be submitted within 31.03.2013.