Workin progress it return
kuppili venkata ramana murthy
(Querist) 07 May 2012
This query is : Resolved
Dear sir
I am having my own sister firm i.e under work-in-progress and there no sales in 2010-11.
can we file return for 2010-11 with expenses/loss. please give me suggestion.
A V Vishal
(Expert) 07 May 2012
If your are financially disciplined person then file your return else look to your auditor for advise.
Deepak Nair
(Expert) 07 May 2012
Yes. You can file returns even if there is no incom/profit.
R.K Nanda
(Expert) 07 May 2012
I agree with experts.
Naresh Kudal
(Expert) 07 May 2012
yes you can file return with no income (profit)
C. P. CHUGH
(Expert) 07 May 2012
Last date of filling of income-tax return for FY 2010-11 AY 2011-12 is already over. Now in case you wish to file your belated returns now, you shall not able to claim the benefit of carry forward of losses. Hence forget about it. Coming back to your querry, you said you had a sister concern in which there is no sale and only certain work in progess, meaning thereby you have another business in which there is sale and income. Had not you filed your return for that business already, and if it so, i donot understand who advised you to file a separate return for separate businesses owned by one person.
If you have not filed your return for any of your business, you can file it now and loss of one business will be set off against the income of other business.
Shonee Kapoor
(Expert) 08 May 2012
Nothing left to be added.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
