Balancesheet in First AGM

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abvvora (Querist)
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01 November 2008 1) A company incorporated on 05.03.2007.
2) 1st AGM can be held within 18 months from date of incorporation.
3) Is it compulsory to prepare B/s from 05.03.2007 to 31.03.20007?
4) If yes, whether necessary to hold AGM in 2007 itself to adopt the B/s?
5) Can we prepare B/s from 05.03.2007 to 31.03.2008 and hold 1st AGM on 03.09.2008?
6) Can we adopt B/s from 05.03.2007 to 31.03.2007 and 01.04.2007 to 31.03.2008 in 1st AGM to be held on 03.09.2008?

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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01 November 2008 It can be upto 31st March 2008.

Tajoddin

Tajoddin (Expert)
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03 November 2008 1. You prepare the b/sheet 05.03.2007 to 31.03.2008 (ROC allowed 15 months of B/sheet, some special cases 18 months)
2. For Income tax purpose has to prepare a. 05.03.2007 to 31.03.2007
b. 01.04.2007 to 31.03.2008
Income tax deportment allows March end B/sheet

Note: First year may problem for preparing the b/sheet (ROC & IT), next years there is no problem.you have to do like that.

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