financial year

This query is : Resolved

Preety Gupta (Querist)
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20 April 2011 dear members,

A private limited company was incorporated on 25.03.2011, please suggest as to what should be its first financial year.

Regards

Preety

CA Navin Jain

CA Navin Jain (Expert)
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20 April 2011 first financial year would be less then one year or upto 18 months.

but as per income tax act first FY will be from 25.03.2011 to 31.03.2011 and therefore u need to file ITR.

udit sharma

udit sharma (Expert)
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20 April 2011 The First Financial Year of the Company may be from 25.03.2011 to 31.03.2012, subject to the approval of the Board of Directors of ur Company.

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