Income tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 April 2016 Dear Sir,

There is One Firm , started business in 2013 but yet not applied for pan card & not even filled ITR as no PAN Card.

Still today only 3 lac turn over in banks. Should i apply pan card & file old itr or start new firm from 01.04.2016 ?

Thank you

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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02 April 2016 If you have business under partnership firm, you have to file tax return. But FY 2013-14 you can file return since due date for Filling date expired 31st March 2016.

Querist : Anonymous

Querist : Anonymous (Querist)

03 April 2016 Cant we file Belated return for six years ?

But i have not applied for PAN Card also, so should i forget that firm ? As there is actually loss in that year.

Please guide & Thanks for reply.

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Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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03 April 2016 No Belated it is condonation of delay but there are some rules which you can find from below circular...!!!
http://www.itatonline.org/info/wp-content/uploads/2015/06/CBDT_Circular_9_2015_condonation.pdf