A COMPANY HAS LOSS ITS MANDATORY FOR E-FILING

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rajesh (Querist)
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23 June 2009 DEAR SIR/ MADAM

1. A PRIVATE LIMITED COMPANY IS NOT DOING ANY BUSINESS ACTIVITIES, SOME REVENUE EXP. PAID BY COMP. SO IT WAS COMES UNDER NET LOSS EVEN IN THIS SITUATION IS IT MANDATORY FOR IT E-FILING

2. A CINEMAHALL IS RUNNING BY PARTNERSHIP FIRM ITS ANNUAL GROSS COLLECTION IS RS. 900000 IS IT MANDATORY FOR FILING ITS IT RETURN THROUGH E-FILING AND MANDATORY FOR PAYMENT OF FRINGE BENEFIT TAX, PLEASE TELL

THANKS IN ADVANCE

Sanjeev Jain

Sanjeev Jain (Expert)
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23 June 2009 Hie,

In first case, it is mandatory to filed return as defined under section 139(1) read with section 80 of income tax act,1961 even if you have losses in your financials.

In your second case, if you had incurred expenses that have been defined under section 115WB(2) and 115Wc and you have employee based in india, then you have to pay FBT on the amount of those expenditure you can not take a stand that out of those expense none of the expenses have been incurred for the benefit of employee. because it is presumptive taxation.