We are Jollykids Educations India Pvt Ltd. has got a letter from Income Tax saying
You have not filed your Return of Income For A.Y 09-10. You are req to file the return of income immediately and submit the copy of acknowledgement to this office within 10 days
We are running of loss since we started business(jun 2009). And TDS for the school premises are been paid by Us. So please tell me the procedure and instructions for further doing.
04 March 2011
Every company has to file IT return whether it is in profit or loss or doing no business. You have to file IT return in response to the notice.
05 March 2011
Turnover is only gross receipts. In your case tax audit is not applicable. Only audit under Companies Act is required. Consult a Chartered Accountant in your city.
05 March 2011
A.y 2009-10 means income of the year 08-09 right. We did not start any business over that time. WE started operation only from june 09 so in this case what to do?
05 March 2011
When your company was incorporated on 15.5.09, how can you submit return for AY 2009-10. The first financial year of your company should end on 31.3.2010 and you have to get the accounts audited for FY 2009-10 and file return for AY 2010-11. Explain this by way of letter to Income Tax Department who have sent you the letter.
CAclubindia
