First accounting year
This query is : Open
CA Ashish Bohra
(Querist)
06 April 2012
I corporated a company this march with an auth share capital of rs 2 crores. Certificate of incorp was of dt 19th march 12.
What wd be my first accounting year for roc purpose and income tax purpose. The directors were out of town and thus bank account was opened in april 12.
Pls help
Still my common seal is under process and first board meeting is yet to call on.
What wd be my first accounting year for roc purpose and income tax purpose. The directors were out of town and thus bank account was opened in april 12.
Pls help
Still my common seal is under process and first board meeting is yet to call on.
06 April 2012
The first accounting year shall be 19.3.2012 to 31.3.2012.
CA Kishore Tallam
(Expert)
07 April 2012
For Income tax purpose, the first previous year shall be from date of incorporation i.e. March 19, 2012 to March 31, 2012.
However for ROC purpose, you need to choose what shall be accounting year. A Company is free to choose any accounting year. The Board in its first meeting has to decide the accounting year.
However for ROC purpose, you need to choose what shall be accounting year. A Company is free to choose any accounting year. The Board in its first meeting has to decide the accounting year.
Message likes :
1 times
CA Ashish Bohra
(Querist)
09 April 2012
the shares were not subscribed till 31st march 12 as the bank a/c was not opened till date.
Thats the reason we are not in position to prepare balance sheet as on 31.03.2012 for I T purpose.Pls help
Thats the reason we are not in position to prepare balance sheet as on 31.03.2012 for I T purpose.Pls help
CA Kishore Tallam
(Expert)
09 April 2012
Take cash from the shareholders and then prepare accounts.
CA Ashish Bohra
(Querist)
09 April 2012
Subscribed Capital is 2 crores
CA Ashish Bohra
(Querist)
09 April 2012
What if i do not file my IT return for the A.Y 2012-2013
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reward for festival
- 18% Rent a cab
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- RCM and same line
- Movement of goods by packers and movers - type of sale - Reg.
- Appointment of Auditor By Form ADT-1
- ARCA LOGIN
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Closer of business and itc of capital goods
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
