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When to file an ITR for a business


02-Jan-2023 (In Tax Law)
I have a family wear showroom and i have started this 3 months ago i.e in october .can u pls tell me when i have to file my first itr?
Answers (5)

Answer #1
624 votes
Dear Sir, Generally for filing income tax return starts from 31st July till 31st March. In your case since you have started your business just before three months back, you have to file your 1st Income Tax return within 31st July, 2018 to 31st March, 2019! Regards, Renuka
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Advocate Renuka Sahu

Adv. Renuka Sahu

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Answer #2
727 votes
You will have to file your first Income Tax Return by 31st July 2018. It will be filed for the Assessment Year 2018- 2019. Income Tax Return for any Financial Year is filed by 31st July after the Financial Year ends.
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Advocate Ashish Shaw

Adv. Ashish Shaw

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Answer #3
865 votes
Hi, in your question it is not clear that whether you talking about direct tax or indirect tax. however for direct tax you must have pan or applied for. thereafter you have to file return near may to july 2018 and for indirect tax you have to file every month and you should apply for GSTIN.
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Advocate Manoj Kumar

Adv. Manoj Kumar

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Answer #4
796 votes
Hi it depends on your turnover, If your turnover is below 2 crores than by 31st July 2018. if turnover is greater then 2 crores, then you have to get it audited and file the return by 30th September 2018.
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Advocate Vishal Garg

Adv. Vishal Garg

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Answer #5
755 votes
It is depending on your tournover and net profit, if your net profit is taxable you have to file your ITR for the assesment year 2018-19 ( FY. 2017-18 ). In the case of non taxable income it is upto you , you may file ITR voluntarily.
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Advocate Brajesh Kumar

Adv. Brajesh Kumar

LawRatoDelhi | 25+ Answers
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