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It return ay 2014-2015

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 September 2014 Please let me know if a Private Limited Co not able submit the IT return within 30.09.2014 is there any legal violation and subsequent penal action imposed against the said company(considering the following points)except furnish of revise return.

1) Company not bear any loss so question of carried forward loss does not arise.

2) Advance Tax paid during year is more than provision for tax ie refundable as per self assessment
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AJAY KUMAR

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AJAY KUMAR (Expert)
19 September 2014 if company not comes under the provision of tax audit u/s 44AB rs 5000/- if return do not file up to 31.03.2015 : Minimum : 1/2% to total turnover, Maximum : up to 1,50,000/-
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Querist : Anonymous

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Querist : Anonymous (Querist)
19 September 2014 Thanks for your reply but my specific query is if the company unable to furnish the return within 30.09.2014
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
22 September 2014 if there are no tax liability outstanding, then there wont be any issue as long as you file the return by 31 March 2015.
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