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First Financial year

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(Querist)
17 September 2009 Dear Experts,

A company has been registered in December 2008 and the business was not started in the FY 2008-09. Do they require to file audited books of accounts with CLB for the FY 2008-09 or they can extend the first financial year upto 31st March 2010 and file the books for the entire period. How do they go ahead in second case with IT Act. Do they reuire to file nil return for the AY 2009-10?
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Kaustuv

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Kaustuv (Expert)
19 September 2009 I think with permission from MCA, you can extend the F.Y. up to a maximum of 18 months, which you can avail in this case. Better to file a Nil return for 2008-09 with IT department
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