A private Limited company has been incorporated on 3rd June 2012. The first AGM is to be held within 18 months and accordingly the due date of AGM will be 2nd December 2013. In that event the accounts are to be audited and Audited balance sheet and profit & loss accounts are to be made by 2nd November, 2013. If this is right, I have two queries here.
- does it mean that the first financial year will be from 3rd June 2012 to 2nd May, 2013? Next financial year will be from 3rd May, 2013 to 31st March 2014.M
- can we treat this as financial year for the Income tax purposes also file the first return before 2nd December, 2013. The return will be a loss return and can the losses be carried forward.
I look forward guidance from learned members of the club.
CAclubindia
