tax returns

vivek patil (Querist) 26 October 2010 This query is : Resolved
SIR, IS IT MANDATORY TO FILE TAX RETURNS FOR REGISTERED COMPANY EVEN IT IS MAKING LOSS?

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adv. rajeev ( rajoo ) (Expert) 26 October 2010
Yes.

A V Vishal (Expert) 26 October 2010
Income tax Act provides under section 80 of the I T Act that no loss shall be carried forward unless the return of income is filed as per provision u/s 139(3) . One of the condition is that return of income has to be filed within the due date prescribed for filing return of income.

Devajyoti Barman (Expert) 27 October 2010
Right.

s.subramanian (Expert) 29 October 2010
I agree.

soumitra basu (Expert) 31 October 2010
According to section 139 (1) every company and every partnership firm has to file income tax return irrespective of the fact that they have incurred loss.

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tax returns

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