Q. Hi,
We incorporated our Private limited company in Aug 2020 and also registered it for professional tax and paid a tax of Rs 2500 after registration. The company has only two directors as employees and so far, they do not receive any salary. The company has done zero business till now and so the revenue is also zero. We received a notification from Chennai Corporation to pay tax arrears of Rs 7500 for ( Rs 2500 for second quarter 2020-2021, Rs 2500 for first quarter 2021-22 and Rs 2500 for second quarter 2021-22 ). Is it compulsory to pay this tax when the directors receive no salary and company has zero revenue. How can we get exempted from this tax and get back the Rs 2500 paid as tax for the first quarter 2020-21, thanks!
A. You can book a consultation with me for further detailed discussions.
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