ITR for Private Limited Co

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1238 Points Posted on 05 December 2020
Dear Friends,

We were Incorporated our company on Jul 19. But, no any business transactions in the FY 19 20. But, we have some fixed and Recurring expenses. We need to File ITR? Which IT form we should select?
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On 05 December 2020 at 14:13 Report
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This discussion clarifies whether a Private Limited Company must file an Income Tax Return (ITR) for a financial year in which it had no business transactions but incurred expenses. The consensus is that filing is mandatory, even with zero revenue. For companies not claiming exemptions under Section 11 of the IT Act, ITR 6 is the applicable form.

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3924 Points Posted on 05 December 2020
Yes , you have to file income tax return for F.Y 19-20 mandatorly irrespective income .
ITR 6 is applicable , if you not claiming examption under section 11 of the I T Act 1961.
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On 05 December 2020 at 15:30
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1238 Points Posted on 05 December 2020
Dear Prasad Garu , thanks a lot for your kind assistance. The Director of the company has to file ITR whether zero revenue? Which form? ITR 1?
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On 05 December 2020 at 21:48

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