Company annual tax returns

Tax queries 222 views 5 replies

Teja Sharma

1 Points Joined November 2017

Hi CA's in the CA Club,

Wwe have incorported our PVT LTD company in 2014 and as we are not from finance background we don't know much rules or works to be done (filings appointment of auditor) even our CA Who took the job of creating pvt ltd has not guided us anything about the future maintenance of company like to appoint auditor or file taxes yearly

Now we want to file returns for 2014-15 2015-16 ad 2016-17 for three years though its very small business with turnover of 20000 Rs per year we want to file returns for these three years.

We spoke to one of the CA in Local and he says auditor was not appointed and we need to pay penalty of Rs.4500 for ADT1 for three years.

And two years returns can be filed but 2014-15 cannot be filed now as system doesn't accept and he is charging approx 12000 for two years including tax, penalty and interest and his professional fees

Please share your suggestions and work arounds for this issue

Replies (5)

amit aggarwal

Tax Consultant

59 Points Joined January 2012

Your CA is right about charges and procedure as mentioned above.

Teja Sharma

4 Points Joined November 2017

we are good to pay Rs.4500 for adt1 charges

we didn't pay 2014-15 tax returns as theres was no turnover infact business was not kick started just we were developing our softwares

for 2015-16 and 2016-17 can we pay the charges now before 7 oct ? if yes do we need to pay any penalty or interest ?
if yes for penalty how much it would be
if yes for interest how much it would be

Detailed help is appreciatable