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Loss in 1st balance sheet of company

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 November 2011 DEAR FRIENDS/SIRS

A COMPANY OCCURS LOSS IN THE 1ST YEAR BALANCE SHEET IN WHICH IT IS INCORPORATED.

IS THERE ANY LAW THAT PROHIBITION TO NOT TO SHOW LOSS I.E.ALWAYS THERE SHOULD MUST BE PROFIT IN THE 1ST YEAR BALANCE SHEET OF THE COMPANY.

THANKS .
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CA RICHA BADALIA

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CA RICHA BADALIA (Expert)
26 November 2011 No,Sir there is no such law in India.
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Querist : Anonymous

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Querist : Anonymous (Querist)
26 November 2011 THANKS......
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