Return of Income

This query is : Resolved

Dev (Querist)
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09 April 2010 Company is foreign company holding PAN number in India not having any income chargeable to tax in India. Whether this company is required to file return u/s 139 (1) of Income tax Act 1961?

CA. Deepak Narula

CA. Deepak Narula (Expert)
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09 April 2010 the company is not exempted from filing of return of income even if its income is not taxable. therefore the company is required to file return u/s 139(1)

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taxindiaconnect

taxindiaconnect (Expert)
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09 April 2010 An Indian company is not expempted from filing of Income tax return. In case if a company is a foreign company having no income in india, need not file any return of Income. A foreign compmany having income only from dividends, interest and units on which TDS has been deducted, ned not file ITR in India as per section 115A (5) of IT Act.

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