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INCOME TAX RETURN OF PRIVATE LIMITED COMPANY

This query is : Resolved 
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(Querist)
28 October 2023 PRIVATE LIMITED COMPANY INCORPORATED IN THE YEAR 2022, DURING FY 2022-2023 THERE WAS ONLY DEVELOPMENT WORK, WHETHER IT NEED TO FILE INCOME TAX RETURN ? IF YES THAN PROFIT AND LOSS SHALL BE NILL AND WHETHER IT IS COMPULSORY PREPARE BALANCE IN COMPLIANCE TO THE INCIAN ACCOUNTING STANDARDS SPECIFIED IN ANNEXURE TO THE COMPANIES RULES 2015 ?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
29 October 2023 Yes, file ITR with nil income.
No need to follow AS in such a case.
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