Filing of return for newlyi ncorporated company

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vishal choudhary (Querist)
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17 September 2010 As per Companies Act, company can prepare books of account for 15 months but i wanted to know is that the same from Income Tax point of view.

Suppose a company is incorporated on 15th jan, 2009 and incurred the loss of Rs 50000 till 31st march 2009 but Prepare its books of account for the period 15th jan,2009 to 31st march,2010. When will it has to fill its First Income Tax return i.e. either on 31st march 2009 to carry forward loss of Rs. 50000 or on 31st march 2010.Moreover, if company files its first return on 31st march 2010 can it claim loss of the year ended 31st march 2009 i.e. Rs.50000?

CA Amit Joshi

CA Amit Joshi (Expert)
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17 September 2010 As per Income Tax Act 1961 the period is from1April to 31 March. If you want to C/F the loss you have to file return from 15 jan,2009 to 31 March,2009.

vishal choudhary

vishal choudhary (Querist)
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17 September 2010 Thanks Sir
please provide me with related provision of the Act.

One more thing Sir, isn't that provision violated or contradict the provision of the Companies Act.

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