Regarding Business

One person turnover 18-19 20lakh
and now GST registration cancel and income tax return file or not
my question is
any process of business closed in return.
Replies (2)

You must file ITR for AY 2019-20, if aggregate income above basic exemption limit. 

From next year your business (or income u/h.  'PGBP')  will be NIL, if business closed.

There is no requirement to intimate closure of business (if proprietroy).  The change is earlier you had business income to show in ITR and now you will not have business income to show as it's closed. 

But you would be having other sources of income so better you continue to file ITR even if taxable income is below basic exemption limit of Rs 250000/- . 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
26 September 2026
Chartared Accountant

pushpganga ventures

Pune

CA

View Details
Company
16 September 2026
Internal Audit - Team Lead

Consulting & Beyond

Chennai

CA

View Details
Company
Featured 12 September 2026
Assistant Manager - Finance & Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details
Company
08 September 2026
Audit Executive

Thammana & Associates

Srikakulam

B.Com

View Details
Company
Featured 11 September 2026
Audit Executive

RBSM Corporate Advisors Private Limited

Pune

CA

View Details