A new Company commences business in Feb2020 income tax applicability
This query is : Resolved
10 July 2021
A company commenced business on 01.02.2020. Prelimany expenses were incurred since that day. No IT return has been filed for the period AY 20-21. Now in FY20-21 the balances as on 31.03.2020 are carried forward and included for the period 01.04.2020 -31.03.2021. How to prepare the financial statements for the period 01.02.2020 to 31.03.2021 with repsect to IT returns and for Company ROC.
10 July 2021
IT return should have been filed for two months period 2020.
Now' prepare financial statements for 2020-21 taking preliminary expenses of previous year in the 2020-21 accounts.
File ITR and ROC return for 3020-21.
Now' prepare financial statements for 2020-21 taking preliminary expenses of previous year in the 2020-21 accounts.
File ITR and ROC return for 3020-21.
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