First annual return filing of newly incorporated section 25

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Abhishek (Querist)
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13 January 2014 Dear Sir,
If a new section 25 comapany is incorporated in May 2013 then when it should file annual return ? Is it exempted for fy 2013-2014.and can file within 60 days after 18 months due date of AGM or it is required to file for every financial year.I also like to ask about income tax return if company is not granted with 12A and 80 c certificate then income tax is to be filed for every financial year after incorporaton.

CA SAYANTAN BASU

CA SAYANTAN BASU (Expert)
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16 January 2014 Dear sir ,
Section 25 companies are companies formed with the purpose of promoting its objects like Science, commerce,arts, , religion, charity etc. Company with Share capital to file annual return like any normal filing of companies. ( Form 20B) & Annual return form . Company without Share capital to file annual return in Form 21A.
So they have to follow the same rules which has been given in section 159 and section 160 of the companies act 1956 ....so the time line as stated in section 159 and section 160 WILL BE USED ...
The rules stated in section 139 and its subsections will be applicable equally in the case of section 25 companies ... They also need to submit for Income tax returns ...