Company was incorporated in March 2011. Accounting year followed by company is Jan to Dec. Hence first closing of accounts for statutory audit will be Dec 2011. However income tax year will be April to March. In the month of March only salaries for the staff was paid. There is no sale or purchase or any other activity. Even shares were not issued but application money was received .
Can somebody clarify whether income tax return to be filed for the year ending 31-3-2011. If so accounts also have to be prepared and get audited. Whether company can file return for assessment year 2012-13 including March 2011 upto March 2012.
Looking forward to your valuable opinons
Thanks in advance
CAclubindia
