Due date of ITR of Companies in Finance Bill 2008
This query is : Resolved
29 April 2008
Dear friends,
As per the Finance Bill, an amendment is proposed to change the due date of filing income tax returns of companies and tax audit assessees from Oct. 31 to Sept. 30.
In view of above amendment, my query is whether in the case of a company, can we conduct AGM on Sept. 30 or we need to prepone the same?
Whether date of AGM has any impact on the filing of Income tax Return?
What I feel is that we can file income tax return at any time upto due date irrespective of the date of AGM. AGM may be conducted before filing of ITR or thereafter, it does not matter.
Am I right or not? Please give your views.
Thanks.
As per the Finance Bill, an amendment is proposed to change the due date of filing income tax returns of companies and tax audit assessees from Oct. 31 to Sept. 30.
In view of above amendment, my query is whether in the case of a company, can we conduct AGM on Sept. 30 or we need to prepone the same?
Whether date of AGM has any impact on the filing of Income tax Return?
What I feel is that we can file income tax return at any time upto due date irrespective of the date of AGM. AGM may be conducted before filing of ITR or thereafter, it does not matter.
Am I right or not? Please give your views.
Thanks.
30 April 2008
Changes proposed in Finance bill 2008 are for financial year 2008-09. So, i think for F.Y.2007-08, you don't need to change date of AGM as return is to be filed upto 31 October 08.
As far as connection between AGM and ITR date is concerned, companies have to adopt their audited acccounts in AGM each year, only after adoption in AGM their accounts are finalised and become binding on company. So, I believe if you file ITR before AGM, the legality of accounts may be challenged.
As far as connection between AGM and ITR date is concerned, companies have to adopt their audited acccounts in AGM each year, only after adoption in AGM their accounts are finalised and become binding on company. So, I believe if you file ITR before AGM, the legality of accounts may be challenged.
30 April 2008
In my view the last date for filing the return is 30.09.2008 in this year,but if there is no Tax audit report then it may file upro 31.03.2009,well in your case if you want to file your return before 30.09.2008,then obviously the date of AGM should be before 30.09.2008.
01 May 2008
Yes, my friend is right about due date. It is now 30.09.08 for A.Y. 2008-09. Pls ignore first para of my answer, second para is applicable for AY 2008-09. Thanks.
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