I have incorporated Company in the month of feb 22 and the bank account is not yet opened...
Is it mandatory to file mgt 7 and aoc 4 for fy 21-22..???
Also, while filing IT Return, whose bank account details can i give..??
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Filing of MGT 7 and AOC 4
Replies (1)
Hai, for company incorporated after December 31, there is a rule in Companies act to prepare financial statements of next year preceding the year of incorporation. i.e Your company incorporated in Feb 22, so you have the option
to prepare financial statements for the year 2022-23 and conduct 1st AGM for the FY22-23 only. Thus filing of MGT7 and AOC4 for the FY21-22 is not mandatory.
But if stakeholders wants to prepare financial statements for the FY21-22, you can prepare. no issues with that. Here comes the twist. In income tax law, every company is compulsory required to file ITR and you have to file it, due date is 30th September as of now.
advised to open a current account in the name of company now itself and file ITR
Hope above helps. Thank you
to prepare financial statements for the year 2022-23 and conduct 1st AGM for the FY22-23 only. Thus filing of MGT7 and AOC4 for the FY21-22 is not mandatory.
But if stakeholders wants to prepare financial statements for the FY21-22, you can prepare. no issues with that. Here comes the twist. In income tax law, every company is compulsory required to file ITR and you have to file it, due date is 30th September as of now.
advised to open a current account in the name of company now itself and file ITR
Hope above helps. Thank you
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