Whether is it mandatory for Private Limited Company to file income tax return even if it has made loss and does not want to carry forward the same as there is no possibility of earning profit next year also and the business is shut down next year?
Whether is it mandatory for Private Limited Company to file income tax return even if it has made loss and does not want to carry forward the same as there is no possibility of earning profit next year also and the business is shut down next year?
Dear Sidhesh,
As long as a Company (Private or Public) is in existence it is required to file its ITR irrespective of the fact it has sustained loss or is planning to shut down or has no revenue at all.
yes it is mandatory for companies
Yes, It is mandatory for a Companies to file ITR as well as Annual Return under Companies Act.
Dear Siddhesh,
The excuses given for non-filing the return seems absurd.
You must file return of Income for the company in existance.
Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
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O P Bagla & Co LLP
New Delhi
CA Inter
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YOGESH KAPOOR AND ASSOCIATES
New Delhi
B.Com
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