Confliction abt f. y b/w companies act 2013 & income tax act

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Nitish Garg (Querist)
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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.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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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

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Nitish Garg

Nitish Garg (Querist)
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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?????

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