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Necessity to file itr

This query is : Resolved 

08 May 2013 A Company is incorporated on 12/03/2010, 1st balance sheet is prepared for 12/03/2010 to 31/03/2011. Is it required to file ITR for the year ending 31/03/2010.

08 May 2013 Dear Jyoti,

yes..as per section 139, of the income tax act, a company has to file the ITR irrespective of its income.

thus, the return has to be filed. however, for the year ended 31/3/2011, the Assessment year was 2011-12 and the last date of filing the return was 31/3/2013 (one yr. from the end of the AY), thus, the return has now become time barred.

- Ankit


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