03 April 2013
I have a client having newly established business of construction (residential) and has Pvt ltd status in Kolkata (WB). Now they are working on their first project and it is still not completed by FY 2012-2013 and hence there is no income yet, though there is expenses. Now question is whether they should file the return for 2012-2013? and whether return file is to be submitted with ROC.
20 May 2013
Yes he has to submit the return under both the acts. He should file IT return on percentage completed method and accordingly as per companies act the BS is to be prepared.
CAclubindia
