Dear Experts
We have a private limited company incorporated in March 2011 with a capital value of 100000. But we didn't do any business in 11-12 as were not able to take required approvals & products etc. But we have spent around 7 lacs on Rents/expenses/licensing other things in 11-12 year. This year we are going to do business.
Please tell me should we have filed any statutory return/filing for 10-11 as the company was registered in 10-11 FY. If yes, will it attract any penalty/late fees etc if we do it now. What returns/filing we will have to do for previous year (11-12) & last dates. What ever investment/expense we put in 11-12, will we be able to get it reduced from income in 12-13.
Thanx in advance
CAclubindia
