My friend run one proprietorship business. He closed due to personal issye. But he run 1.8 years. On that period, he have service tax he paid but not filled return and he have tds receivable also. But he not filled the it returns also. Please suggest me how to close the issue and now he want to start a new business?
Please suggest any one how to close?
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Return filling issue
Replies (2)
Sir,
If you want to claim refund,in the above 1 year belongs to A.Y 2018-19[i.e F.Y 2017-18]You can file the return now also but with penalty based upon your total income.
If the old business got loss then you can set-off with the profit in new business[If you filed return for the old businesses]
If you want to claim refund,in the above 1 year belongs to A.Y 2018-19[i.e F.Y 2017-18]You can file the return now also but with penalty based upon your total income.
If the old business got loss then you can set-off with the profit in new business[If you filed return for the old businesses]
Thank you for your response. Fy year is 2015-16. Possibility to file the return .
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