18 months applies for income tax purpose
Querist : Anonymous
One of my client is a Pvt Ltd company incorporated on July 30, 2013. They are taking benefit to close books of accounts considering 18 Months and planning to close the books on March 31, 2015. But their Turnover as on March 31, 2014 is 1.15 Crores.
Can they take the benefit as on March 31, 2014??
whether they are liable to get tax audit done on March 31, 2014? Also liable to file tax return?
Please advise
Querist : Anonymous
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