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ITR return

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(Querist)
26 August 2020 SIR
If a Private Limited Commences its business at the end of financial year i.e say for example 29-02-19 (2019-20), whether It should file ITR for 2019-20 separately OR Is it enough to file ITR only after the end of next financial year -2020-21?
clear my doubt plz
thanks in adv
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CA Ankith Jain

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CA Ankith Jain (Expert)
27 August 2020 ITR has to be filed for 2019-20, you could c/f your losses if any.
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PARAS CHHAJED

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PARAS CHHAJED (Expert)
28 August 2020 For the purpose of income tax accounting year cannot exceed 12 months therefore you are required to file return of income for FY 18-19 i.e. AY 2019-20
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