Year end closing of non profit organization - churches
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 June 2011
Hi,
Please advise - Is it required that the Final Accounts of non profit religious institutions such as churches should be closed at a year ending date such as 31-12-2011 or FY - 31-03-2012.
If the previous year closing was done on 15/01/2011, then is it required that the next year closing should be done on 15/01/2012. OR Is it compulsory to close accounts at a year end such as 31/12/2011 or FY- 31/03/2012. Please advise.
Please advise - Is it required that the Final Accounts of non profit religious institutions such as churches should be closed at a year ending date such as 31-12-2011 or FY - 31-03-2012.
If the previous year closing was done on 15/01/2011, then is it required that the next year closing should be done on 15/01/2012. OR Is it compulsory to close accounts at a year end such as 31/12/2011 or FY- 31/03/2012. Please advise.
18 June 2011
For the Internal use of the books and records., Books can be closed at any date...
but for complying the provisions of income tax purpose., the books of accounts should be always closed for the date prescribed by the act., i.e. 31.3.2011
but for complying the provisions of income tax purpose., the books of accounts should be always closed for the date prescribed by the act., i.e. 31.3.2011
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- Tds on building rent monthly
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
