There is a company which is incorporated on 31.03.2011 and certificate of commencement of business u/s 149 of the Companies Act, 1956 was granted on 30-04-2011. During this transaction, there has been no transaction except preliminary expenses.
Please advise whether Annual Report u/s 211 is required to be maintained and Annual Return under Companies Act is required to be filed with ROC. Further, whether form 3CD and Income Tax Return is required to be filed with Income Tax Department.
Newly Incorporated Company Must File Income Tax Return Despite No Business Activity; ROC Returns Not Required Initially. A company incorporated on 31.03.2011 received its business commencement certificate on 30.04.2011. The company inquired about the necessity of maintaining an Annual Report under section 211 and filing an Annual Return with the Registrar of Companies (ROC), as well as filing Form 3CD and an Income Tax Return. The response indicated that the company could close its accounts from 31/03/2011 to 31/03/2012 without filing ROC returns. However, an income tax return must be filed even if no business activities occurred. The provisions of section 44AB, including Form 3CD, are not applicable. (AI Summary)
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