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About IT Filing of a Company

Divya.M (CA Final Student) (274 Points)

21 September 2010

Is that mandatory that the AGM of an company should be over before filing its IT Returns with Income Tax

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5 Replies

Yogesh Shah (Managing Corporate Finance) (1051 Points)
Replied 21 September 2010

NOT AT ALL,

In case the Company want extention of AGM, then IT return will be filed before and extended AGM shall be convened within 31st December.

Renu Goel (Company Secretary) (207 Points)
Replied 22 September 2010

But I think ITR cannot be filed before the AGM as final accounts are adopted by shareholders in the AGM.

Is it possible to file ITR without adopytion of final accounts.

Please correct me of i am wrong....

Neha Gupta (PCS) (377 Points)
Replied 22 September 2010

In my opinion, the ITR is not governed with provisions of Company Law, it is Income tax law matter. So the date of AGM or whether AGM is held or not, it does not effect the due date of filing ITR’s of a Company. Even if the AGM is not held in any financial year but accounts as on 31^st march for that year is prepared then we can file ITR with in due time without considering the dates of AGM of the Company.

Regards.

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17848 Points)
Replied 22 September 2010

Ms Neha is absolutely right.

Income Tax and Companies Act provisions are different. Under income tax balance sheet should be AUDITED so it is not necessary that it is adopted before filing of ITR.