20 August 2009
Dear Experts, Kindly advice me in the following situation. A private limited compnay has been registered in December 2008. For the year 2008-09 there was no operations and consequently no expenses incurred except preliminary expenses. The issue is that the capital is not yet introduced in the company. How should we finalise the accounts as on 31/03/09. If it is not necessary to finalise the accounts as on 31/03/09 under Companies Act as there is a relaxation in the first year, how to go ahead with finalisation for taxation purposes?
CAclubindia
