Conflict b/w income tax act & requirement of roc
This query is : Resolved
20 January 2014
A PVT LTD is incorporated on 21.02.2013.
Now as per the provisions of Companies Act, 2013 we have to prepare the accounts for financial year for the period of 14 Months (21.02.2013 - 31.03.2014).
But as per the provisions of Income Tax Act, a previous cannot exceed 12 months.
Should we have to prepare two balance sheet, 1 According to Companies Act, 2013 and 2 to Income Tax act?
And If we have to prepare two accounts for Income tax purpose, then what about the AGM and all the related Forms of ROC???
Do we need to file all this forms twice for different accounts?
Kindly help me regarding this with relevant companies act, 2013 notifications?????
Now as per the provisions of Companies Act, 2013 we have to prepare the accounts for financial year for the period of 14 Months (21.02.2013 - 31.03.2014).
But as per the provisions of Income Tax Act, a previous cannot exceed 12 months.
Should we have to prepare two balance sheet, 1 According to Companies Act, 2013 and 2 to Income Tax act?
And If we have to prepare two accounts for Income tax purpose, then what about the AGM and all the related Forms of ROC???
Do we need to file all this forms twice for different accounts?
Kindly help me regarding this with relevant companies act, 2013 notifications?????
21 January 2014
you need to prepare two separate accounts for the income tax purposes.
the companies act filings shall be done as usual..
the companies act filings shall be done as usual..
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