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Income Tax

Tax queries 632 views 4 replies

Dear Friends,

I have registered my company last year August, but as of now i haven't done any transactions. we have collected some amount from new franchisees, but machinery yet to be delivered to those client. how do i need to file my Incometax as company proprietor. Kindly help me.

Replies (4)

You need to file two income tax returns. One for yourself and other one for Company. Even though there was no income no transactions, you can still file the Nil return. But if you ask in person you will have loss in your books of accounts of the company, as you would have spend some expenses for forming the same, MOA and AOA fees, Registration fees, Office Maintenance etc. By filling the loss return you can carry forward these looses into your books of accounts. 

Dear   friend,

You need file Income Tax Retun.

You had to file the return, If you have started the operations then you can file the return of loss after claiming the deduction for preliminary expenditure.

You had to file your personal return seperately is well if your income exceeds the exemption limit of Rs. 1,60,000.

Regards

Rajat

For yr concern Compulsory return has to be filed..... And for u if the income limit exceeds the limit... Cheeers...


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