Audit of company formed on 30th sept 2015

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 September 2016 With respect to the above my query is as follows : -

A pvt limited company formed on 30th Sept 15 and has a turnover of above 1 Cr for the period ending March 31st 2015 and is eligible for tax audit.

My query is since it is a new company will the company has more time period that the 17th Oct 2016 (extended tax audit date) to complete it audit process

Amol S Joglekar

Amol S Joglekar (Expert)
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20 September 2016 31 March 2015??????? or you mean to say 31 March 2016?????
The date for tax audit is extended to 17/10/2016 for the Assessment Year 2016-17

Querist : Anonymous

Querist : Anonymous (Querist)

20 September 2016 Yes it is 31st March 2016. Yes date of audit is extended 17th Oct 2016 , but my query is since the company is new can the books be closed at later date than 31st March 2016 .

The company since it is new can the audit of this company be conducted later than 17th Oct 16 ?

Amol S Joglekar

Amol S Joglekar (Expert)
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20 September 2016 No... .....for income tax
yes....... for companies act

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