Regarding penalties for non filing of income tax return

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Pratiksha khandelwal (Querist)
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28 August 2014 Dear Sir

A company had filed its last return on 2009-10. Now company want to shut it down.

1. Could it be possible without filing IT Return?

2. What were the penalties for company?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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28 August 2014 1. if tax are due then no.
2. for non filling of it return check this link :
https://www.caclubindia.com/articles/what-are-the-consequences-of-non-filing-of-returns-14253.asp#.U_77_8WSxe8

Pratiksha khandelwal

Pratiksha khandelwal (Querist)
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28 August 2014 Dear Sir

Concerned Company have no operating activity during these years.

What if, company wants to shut off.

With Regards

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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28 August 2014 when u will file with roc for shutting the concerned roc will first inform it dept as per income tax act.

Pratiksha khandelwal

Pratiksha khandelwal (Querist)
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28 August 2014 Dear Sir

AT present, assesse cannot file its IT return for A.Y. 2010-11, 2011-12 and 2012-13.

Then how can it e possible to shut down a company.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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28 August 2014 then ito may issue a scrutiny assessment notice u/s 143(2) then needs to file as i told u roc may inform the same to jurisdictional ao in this case

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