Financial Year exceeding 12 Months

CA. Rahul Chawla (Chartered Accountant) (47 Points)

11 September 2009  

Is it possible under Income Tax Act 1961 to file return for the period exceeding 12 months especially in case of a newly incorporated Company (upto 15 months) ?

Example :- For a newly incorporated company we consider First Assessment for 15 Months for ROC Purpose. Is the Same possible for Income Tax Also ???

Briefly:- Can we consider the first Assessment Period of 15 months for a newly incorporated company for Income Tax Purpose ???