02 December 2010
dear all one of my client(Limited Company)incorporated on 04.11.09 have started its business on march 10. its accounts showing loss during the period ending 31.03.10. it has not filled Income Tax Return for the AY 2010-11.
My question is what is the consequence of non filling of Return for the said period.
can we closed the accounts on 31.03.2011 for the period from its incorporation and file in coming year,
As per Companies Act we can closed the account for the period which shall greater than a year.
CAclubindia
