Extended Financial year after incorporation

Hi, The company is incorporated on Nov 2019. there is no activity for that year and from 1/4/20 company started operation. Now First AGM is not held sicne no accounts prepared, wether annual return has to be filed for FY 19-20 ??
or we can file FY 19-21 annual return as first financial statements ?

Also if FY 19-20 Annual return to be filed, is there any chances for waiver of penalty or can anyway request for such can be made?
kindly advise since it's showing huge penalty