Late it returns for a non earning pvt ltd company

592 views 2 replies

Hi

A private limited company formed in jan 2010 has not started operating and therefore there is not income yet. So since the last 2 years there haven't been any IT Returns filed. But the status of the company in the MCA website is in ACTIVE status and not Dormant status.

The company is starting to operate again and revenue will start soon. There have been expenditures only in the last 2 years.

So how to proceed. Does it have to file IT Returns with no income at all? will there be any fines? How to show the expenditures? 

If you need any further info regarding this please contact my on this forum or on my email

 

Thanking you

Replies (2)

every co . regt under the companies act  1956 needs to file income tax returns whether there is net profit or net loss (losses can be carried forward) ,try to make the same .............penalties are levied under the income tax act 1961 otherwise.......

for financial year 2010-11 there may be penalty of rs.5000


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details