Conflict between company act and incomtax act
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 March 2013
a pvt.ltd. company is incorporated in 03/02/2011. now company wants to make its Financial year for 15 months for its first AGM but according to Income Tax Act it is mandatory to close Financial year 31/03/2011.
so the company has to prepare 2 balance sheet as per Income Tax Act and Company Act.
so the company has to prepare 2 balance sheet as per Income Tax Act and Company Act.
Dintakurthi Tirumala
(Expert)
23 March 2013
Yes, company has to prepare two balancesheets one is as per income tax act for the purpose of filing of income tax returns and another is as per companies act.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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