I had registered my PVT Ltd company in nov-2014. However the business commencement certificate is still not yet given by MCA. Its pending. The business has been also nil for the year 2014-2015 till today. Do I need to file income tax for my company by march-2015. The PAN card of the company has been issued by the PAN card authority. Pls guide me in this regard.
thanks
Alok
Dear Sir
After getting registered and obtaining PAN card in the name of company you are statutorily obliged to file income tax return.
It's immaterial whether you have earned profit or inccured losses during the year.
As per Income tax act 1961 basic exemption limit to non filing of income taxis provided only to Individual and HUF.
do I have to file nil income tax?? How am I supposed to file income tax. There are no income except expenses. Pls guide.
If there is no income and only expense, you can file ITR for loss and carry forward the loss.
Regards
Vineet
www.financeandtaxhub.blogspot.com
Yes Agreed with Mr. Vineet Goyal........
You can file Return of loss and can set off the losses against income in subsequent 8 years.
But subject to condition return should be filed on or before due date.
@ shivshankar Gupta; I think, INC-21 filing for business comm certificate is a mandatory filing with MCA even for Pvt Ltd company as per MCA complaince post registration of firm.
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