Balance sheet and itr
This query is : Resolved
05 March 2014
A co. is formed on 7-3-13. When will be its 1st balance sheet & 1 ITR become due?
Thanks in advance
Thanks in advance
05 March 2014
it will be having FY as 7.3.2013 to 31.3.2013
so prepare for this period bal sheet and ITR.
so prepare for this period bal sheet and ITR.
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05 March 2014
i couldnt understand wat u exactly asking for...
Nikhil Kaushik
(Expert)
05 March 2014
For income tax purposes AGM is not relevant. You need to prepare books of accounts from date of incorporation to 31 march 13.
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06 March 2014
you are welcome shivani...
06 March 2014
sir this is my second query.. hope for your response.
Ive a rented private office. I need to sub-let it . so how can i distribute my rent & telephone expenses.. Is it applicable nd recognized under Companies Act?
Ive a rented private office. I need to sub-let it . so how can i distribute my rent & telephone expenses.. Is it applicable nd recognized under Companies Act?
Nikhil Kaushik
(Expert)
06 March 2014
well you can share the rent and telephone expenses via a expense sharing agreement.
please note that sub-let income would be taxable as income from other sources.
please note that sub-let income would be taxable as income from other sources.
06 March 2014
sir is there any documentary proof of this permission under the act?
Nikhil Kaushik
(Expert)
06 March 2014
Shivani,
the act doesnt prescribe how you do your business. as long as the expense is booked properly in your books and is used for the wholly for your business, it is allowed.
the act doesnt prescribe how you do your business. as long as the expense is booked properly in your books and is used for the wholly for your business, it is allowed.
06 March 2014
u need to make an agreement and get it registered this itself is enough documentry proof.
Nikhil Kaushik
(Expert)
06 March 2014
just get a expense sharing agreement registered on a stamp paper.
06 March 2014
sir where will i get all this information. is it written under any act or rule?
Nikhil Kaushik
(Expert)
06 March 2014
Shivani,
i think that has been answered before.
i think that has been answered before.
06 March 2014
best is that u take a legal help i.e of a lawyer in this case for drafting the agreement
06 March 2014
I'm asking I need to show my boss that this is legal. Is this written anywhere?
06 March 2014
it is a practise followed in practical life..u may not get it in any act.
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