Corporate income tax

there is no need to pay income tax... income tax is payable only when there is net profit... but still you have to file income tax return showing net loss..

Hi,

As per the above case, you don't have any liability of Income Tax.

Hence, you don't have to pay any income tax at all, since you have incurred loss.

For the purpose of Return Filing, Yes you have to file the income tax return showing your loss for the reason of Carry forward in next year. So if you want to carry forward the loss for set off in subsequent year, you have to file the income tax return so as to claim your current year loss. Otherwise your loss will be lost.

Thanks

Hello,

MAT provision apply because status is Company.

If book profit comes nil then no need to pay tax.