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
CAclubindia
