Last updated: February 7th, 2023 11:52 AM
When must a company tax return be filed?
A company tax return is an income tax return. The return is a statement of income and expenditure of the business. All taxpayers must remember the deadline for filing their income tax returns. The company /business subject to audit can file their returns by October 31 of the assessment year. If a taxpayer has an international or specified domestic transaction who is required to furnish a report in Form No. 3CEB, the due date is November 30. Taxpayers who file their returns after the due date must incur interest and a levy under sections 234A and 234F.Company tax return
As mentioned above, A company tax return is an income tax return. The return is a statement of income and expenditure of the business. Also, any tax to be paid on the profits made by the company is declared in this return. The return also contains details of the assets and liabilities held by the business. Items like fixed assets, debtors and creditors of the company, loans taken, and loans given are declared here.Who is required to file a company tax return?
All companies registered in India must file income tax returns annually. Company tax returns are filed under two categories under the Income Tax Act: domestic or foreign company.Domestic company
An organization registered with the Ministry of Corporate Affairs, such as a Private Limited Company, One Person Company, or Limited Company, is classified as a domestic company.Foreign company
As per Section 2(23A), "foreign company" means a company that is not domestic.When must a company tax return be filed?
- The due dates for filing a return of income by a Company are October 31.
- If an assessee has an international or specified domestic transaction that is required to furnish a report in Form No. 3CEB, the due date is November 30.
