Hi,
I am running a start up (sole proprietorship) . Last finance year I have 8 lac turn over and taxable income. So i paid correct income tax. But this finance year i have less han 5lac as turn over ,and don't have any taxable income. So Is it mandatory to submit income tax return in this year ?
Hey buddy
As per my knowledge there is no need to file return because u r saying that u have no taxable income but is advisable to file the return as because u have crossed the exemption limit also that 'll be benificial for you. so it is advisable for you file the nil return.
Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
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Ahmedabad
CA
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