income tax details for the assessment year of 2006 to 2007

This query is : Resolved

radhika (Querist)
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23 March 2009 Sir this is Radhika , ihave a one queary
iam working as accountant and dealing incometax and auditing also my qualification is MBA
Iam working in Iha consulting pvt ltd company.
this company was started on 2005 june
we did not file the incometax file for year of 2005 to 2006. 2006 to 07 and 2007 to 08 we submited e filling
now shall we submit the 2005to2006 year income tax file
please tell me sir

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
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23 March 2009 Company is compulsorily required to file income tax return whether it is operating or no, have any income or losses. If a company does not submit return for any year (suppose have no income or losses), then it will be liable to pay penalty u/s 271F for rs. 5000.

Second you can submit return upto one year after assessment year.
F.Y./A.Y./Last date without penalty/last date with penalty
2005-06/2006-07/31.03.2007/31.03/2008
2006-07/2007-08/31.03.2008/31.03.2009
2007-08/2008-09/31.03.2009/31.03.2010

So you cannot file the return for 2005-06 now.
For 2006-07, you need to pay penalty of 5000.

radhika

radhika (Querist)
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23 March 2009 Thank u Mr Tilak for sending this message
but as u said
in future will we get any prob from tax department

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