Discontinuance of business (176)

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Gnanashekar.R (Querist)
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24 November 2012 I am discontinued my business (private limited)on 30.04.2012

1) what is the procedure to file income tax return?

2)is it mandatory to dissolve the company to prove the discontinuance of business? (because the company has to wait till year end to dissolve in ROC)

V K Bajaj

V K Bajaj (Expert)
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25 November 2012 There is no special procedure for e-filing of the income tax return but would be e-filed normally as previous years.

No it is not mandatory to SHUT the Company only to prove that you are not doing a business. You have to e-file all annual Forms etc to keep it active. If there is no chance of any future business then start procedure to SHUT down the Company as per Rules and Law.

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