07 July 2026
A partnership firm was formed and obtained PAN and GST registration in FY 2025-26 (AY 2026-27). However, the business did not commence during the year, and there was no turnover or income. Business started only in FY 2026-27 (AY 2027-28).
Query: Is filing an Income Tax Return for AY 2026-27 mandatory, or can it be skipped since there was no business activity or income?