It return - very urgent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 September 2012
Dear Sir,
we have one Pvt. Ltd. company having turnover of Rs 40 Lacs i.e. below the limit of Tax Audit, so my view is that it is not compulsory in my case to file return before September 30.
Pls advice your view in detail.
Thx
rahul
we have one Pvt. Ltd. company having turnover of Rs 40 Lacs i.e. below the limit of Tax Audit, so my view is that it is not compulsory in my case to file return before September 30.
Pls advice your view in detail.
Thx
rahul
26 September 2012
Return of income- 139[(1)
Every person,
(a) being a company [or a firm]; or
(b) being a person other than a company [or a firm], if his total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax,
shall, on or before the due date, furnish a return of his income or the income of such other person during the previous year, in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed
conclusion : Return filing is compulsory for Company & Firm & for others return is to be file if the income exceeds the prescribed limit.
Every person,
(a) being a company [or a firm]; or
(b) being a person other than a company [or a firm], if his total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax,
shall, on or before the due date, furnish a return of his income or the income of such other person during the previous year, in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed
conclusion : Return filing is compulsory for Company & Firm & for others return is to be file if the income exceeds the prescribed limit.
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 September 2012
Dear Subhash,
Thanks for prompt reply, but you have not understood my query. Return filling is compulsory that i am aware, but as turnover is less than Tax Audit limit so filling IT return before 30th September is compulsory or not.
Pls rply with your expert view.
Thanks
Thanks for prompt reply, but you have not understood my query. Return filling is compulsory that i am aware, but as turnover is less than Tax Audit limit so filling IT return before 30th September is compulsory or not.
Pls rply with your expert view.
Thanks
26 September 2012
Income Tax Return Due Date AY 2012-13
1. For corporate assessees which is required to furnish a report u/s 92E of the Income Tax Act, 1961 - 30.11.2012
2. For all other Corporate assessees -
30.09.2012
3. For non corporate assessees,(Like Partnership Firm ,prop Firm) whose accounts are required to be audited under Income tax act
(Like 44AB turnover is more than 60 lakh in case of business and 15 lakh in case of profession- section 44AB and Business where disclosed profit is less than 8% of the turnover -Section 44AD)
or any other act for the time being in force. - 30.09.2012
4. For working partners of Partnership firms covered under sr no (3) above -
30.09.2012
5. For any other assessees Like Salaried Income ,Person having Income from House property ,Interest income , Business Income where accounts are not required to be audited. - 31.07.2012
(extended to 31.08.2012 )
Therefore, for all Corporate assessees are liable to file compulsorily IT return within 30th September irrespective tax audit limit.
1. For corporate assessees which is required to furnish a report u/s 92E of the Income Tax Act, 1961 - 30.11.2012
2. For all other Corporate assessees -
30.09.2012
3. For non corporate assessees,(Like Partnership Firm ,prop Firm) whose accounts are required to be audited under Income tax act
(Like 44AB turnover is more than 60 lakh in case of business and 15 lakh in case of profession- section 44AB and Business where disclosed profit is less than 8% of the turnover -Section 44AD)
or any other act for the time being in force. - 30.09.2012
4. For working partners of Partnership firms covered under sr no (3) above -
30.09.2012
5. For any other assessees Like Salaried Income ,Person having Income from House property ,Interest income , Business Income where accounts are not required to be audited. - 31.07.2012
(extended to 31.08.2012 )
Therefore, for all Corporate assessees are liable to file compulsorily IT return within 30th September irrespective tax audit limit.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
