Penalty for not filing a return of loss making company.

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Querist : Anonymous

Querist : Anonymous (Querist)

27 November 2014 i will not file a return of loss making company. then what will be the maximum penalty. company are in loss from the date of incorporation (from the last 4yrs).the paid-up capital is 10,00,00.

shivaji prasad bhimavarapu

shivaji prasad bhimavarapu (Expert)
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28 November 2014 U/s 271 F , every company has to file its return of income before the end of 31 st march of every year to avaoid penalty of Rs.5000/-. To carry forward the loss the due date for companies for filing of IT return is 30 th Sept every year as of now. Though the business is not started by companies, to avoid penalty of Rs5000/- it is better to file "nil" return.

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