Notice u/s 142(1) of the I T Act to a Firm

*What about you mean "There was not any Taxable Income"...?

*Is You are act as a Contractor then any TDS deducted at your customers end...?

*What is Your exact income (billing above said preiods)....?

In case of partnership firm it is necessary to fill the return of partnership whether it has taxable income or not
Are you filling the return of partnership firm

In 142(1) the assessing officer call for some information
It is necessary to respond the notice under the said section otherwise there are some consequences
Arises.

Consequences of not responding to notice u/s 142(1)

If you choose to not respond to this notice, then the assessing officer will make the adjustments as per the details available to him and close your assessment.  You will have no further opportunity to refute his judgement except by an appeal u/s 246 of the Act, as you had failed to furnish the proof requested in the notice sent earlier.  Moreover, the officer can treat it as willful failure to respond and can levy a penalty u/s 272A of Rs. 10,000 for each failure. This penalty is levied if a taxpayer fails to comply with any notice issued u/s 142(1) or section 143(2) or a direction u/s. 142(2A).