Confliction abt f. y b/w companies act 2013 & income tax act
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 financial year for the period of 14 Months (21.02.2013 - 31.03.2014).
But as per the provisions of Previous year as per Income Tax Act, a previous cannot exceed 12 months.
Now should we have to prepare two balance sheet, 1 According to Companies Act, 2013 and 2 to Income Tax act.
Kindly help me out regarding this.
Now as per the provisions of Companies Act, 2013 we have to prepare the financial year for the period of 14 Months (21.02.2013 - 31.03.2014).
But as per the provisions of Previous year as per Income Tax Act, a previous cannot exceed 12 months.
Now should we have to prepare two balance sheet, 1 According to Companies Act, 2013 and 2 to Income Tax act.
Kindly help me out regarding this.
20 January 2014
yes..you need to prepare two accounts for income tax act...
please refer https://www.incometaxindiapr.gov.in/incometaxindiacr/contents/CBDTFiles/Circulars/CBDTLaws/HTMLFiles/dtc47dex.htm
please refer https://www.incometaxindiapr.gov.in/incometaxindiacr/contents/CBDTFiles/Circulars/CBDTLaws/HTMLFiles/dtc47dex.htm
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20 January 2014
What about the AGM (I mean there will be two AGM or 1 AGM)and all the companies form (23AC n all).
Kindly help me regarding this with relevant comapnies act notifications?????
Kindly help me regarding this with relevant comapnies act notifications?????
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