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Producer Company - Filing of IT Return

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(Querist)
27 April 2009 A Producer Company under registered under Companies Act 1956 has not filed It Return till date?

Please advise and also give the implications


It is a company which produces agricultural products. a Joint Venture of rural farmers. It was there first accounting year in which no actual production took place. Company books were duly audited but Income Tax Return was not filed.


Dear Sir,

I am asking what are the consequences of not filing ITR on time in this case.
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taxindiaconnect

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taxindiaconnect (Expert)
27 April 2009 Please calrify what is ment by produces is it manufacturing company or a film producing company.
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Ca. Rajesh Dhama

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Ca. Rajesh Dhama (Expert)
28 April 2009 if any expenditure provide benfit of enduring nature and provide future economic benfit for more than 1 accounting period. than expenditure is in the nature of capital nature
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