Urgent query

Dear Sir. 1) a firm registered & started its business since from 1.1.2000. It does not file its single returns still date ? What are consequences ? 2) AO can make assessment for last 10 years ? 3) Is it possible to firm to file its ROI for last 10 years ?
Replies (2)
Originally posted by : manjunathasn
Dear Sir.
1) a firm registered & started its business since from 1.1.2000. It does not file its single returns still date ? What are consequences ?
2) AO can make assessment for last 10 years ?
3) Is it possible to firm to file its ROI for last 10 years ?

does the firm have its own PAN CARD? as without pan firm has to face hrudle everywhere in every department and every business transaction. 

 

share the turnover( principal business) / related registrations with other departments and their return status.

Mr.Manjunadhasn

You cannot file returns of income for the last 10 previous years.  Please refer section 148  and section 149 of Income-tax act, 1961.

Best wishes

Sathikonda

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