Do I need to file quarterly return?

Hi there,

My brother opened a Firm and got a VAT/TIN ID to do online selling related work in January 2016.

Unfortunately due to some reasons he could not do any purchase or sale in the firm that he made.

He also could not open any current account of the firm. Now he wants to surrender the VAT ID and finish the firm.

My question is that do he still need to file any Income Tax? His CA said that he has to file an Income Tax even after he did not do any work. CA will charge quarterly IT filing fees for this until he don't surrender the VAT ID. 

Replies (8)

if you registered Pvt ltd, than you will do nil IT return, than do surrender soon

It is not Pvt Ltd company.

Vat returns are mandatory to file as per periodic frequency prescribed by state commercial taxes, in case of NIL returns also

than leave it u should file local VAT nil return and than go to meet your local vat officer and submit cancelled letter.it is one day work

Your query is related to VAT or Income Tax Return?
Yes you have to file NIL return.due date march for 4TH QTR.as far as IT return you should file as per your need or can file nil return for INCOME TAX also.
Sorry typing mistake due date is upto april2016 for 4th qtr.please mention.
Originally posted by : Yogendra Dhakad
Hi there,

My brother opened a Firm and got a VAT/TIN ID to do online selling related work in January 2016.

Unfortunately due to some reasons he could not do any purchase or sale in the firm that he made.

He also could not open any current account of the firm. Now he wants to surrender the VAT ID and finish the firm.

My question is that do he still need to file any Income Tax? His CA said that he has to file an Income Tax even after he did not do any work. CA will charge quarterly IT filing fees for this until he don't surrender the VAT ID. 

a FIRM 

firm means partnership in general, 

if its proprietory firm then return goes in name of proprietor himself, 

if firm is partnership and TDS number is obtained, then compliance is needed, to file the respective returns of TDS, 

to dissolve a partnership firm one need to get the balance sheet asset and liablities to ZERO, and repayment of capital from partners then procced to legal way by execution of dissolution deed, and surrender of PAN to respective AO, after filing the return upto the date of dissolution 

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