ITR return
This query is : Resolved
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
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
27 August 2020
ITR has to be filed for 2019-20, you could c/f your losses if any.
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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