Hello Everyone,
I've a question regarding a private limited company formed last year that did not do any business during the course of the year (no revenues, no sales). Should this company still file Income Tax?
Thanks.
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Pvt ltd. company tax filing
Replies (7)
If company prepares annual accounts - it has to file the return of income. In general the company will show the expenses (roc filing fee, audit fee etc.,) and claim los and in order to get the loss c/f - they have to file the IT return
I agree with bindu madhav suggestion, a company is required to file income tax return under 139 whether it carries any business or not.
According to section 139, Company must file return of income.
Sec 139 requires d company to file d return even if it has not carried out any transaction.
As per section 139(1), every company must file returnof income, it is irrelevant that there is no transaction .
Company mention their Balance sheet items to ITD.
Its compulsory for a pvt ltd company to file return of income... Doesnt matter if it has carried out business or not during the previous year.
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