Newly incorporated Co. - Whether to file return or not ??

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CA Nilesh Sodhani (Querist)
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17 March 2009 One Public Co. incorporated on 13.03.2008 is wishing to compile its first annual accounts as on 31.03.2009 and not 31.03.2008 which is permissible under Companies Act. But I want to know whether it is liable to file Return of Income for AY 08-09 or not ? and also whether it is required to be audited because it is not falling under Sec 44AB ?

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Shyam Lal Naik

Shyam Lal Naik (Expert)
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17 March 2009 Need to prepare accounts upto Mar'08 for IT purpose.

Asst. year is uniform for all so far as IT is concerned.

Statutory audit report not required.

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CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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17 March 2009 i support the expert

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HUZAIFA HUSSAIN

HUZAIFA HUSSAIN (Expert)
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18 March 2009 I AGREE WITH MR.SHYAMLAL

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