Shipping company - urgent

it return should be filed whether its a zero income also

File the nil return, it is good for company.

Dear Shradha 

The following persons are under statutory obligation to file return of income u/s 139(1),4A, B and C

A Company,

Firm

and a person other than a company or firm whose income with our claiming deducation under sections 10A, 10B, 10BA, 80C to 80 U exceeds the maximum amount which is not chargeable to Tax.

Son in your case you specified it as a company and company and firm has to file its return on income every year irrespective of its income or loss compulsorily.

So the company is under obligation to file IT return irrespective of the fact that no income or loss it has to file a Nil return

Under Sec-139(1) of the Inocme Tax Act the partnership firm and the company has to mandatorily file the return of the previous year,whether or not they have earned income or not...

In case, its a company.....its compulsory to file the return.............

Thanks

Mihir Doshi

In case, its a company.....its compulsory to file the return.............

Thanks

Mihir Doshi