Regarding penalties for non filing of income tax return

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Pratiksha khandelwal (Querist)

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)

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)

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)

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)

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)

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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