Amit (Chartered Accountant B.Com(H)) (453 Points)
16 December 20091.Is it compulsory for a newly incorporated company to file ites Income tax return even if it is going to extend its agm and thus not required to get its account audited ?
2. Is it require for a company to get its account audited before filing its income tax return?
CA.SKR
(CA; CS-Final (One Group); DISA (ICAI); Insolvency Professional)
(442 Points)
Replied 16 December 2009
| Originally posted by : amit | ||
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1.Is it compulsory for a newly incorporated company to file ites Income tax return even if it is going to extend its agm and thus not required to get its account audited ? 2. Is it require for a company to get its account audited before filing its income tax return? |
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1. It is compulsory / mandatory to file ITR for newly incorporated company also in respect of its first accounting year as decided by the Board of Directors. Audit for all accounting years is compulsory. Extension of AGM date has nothing to do with ITR & Audit.
2. Yes, audit is compulsory before filing ITR.
aayushee kaushal
(article asssitant)
(23 Points)
Replied 07 May 2015
if a co. is incorporated on 27.01.2014 and wants to file roc return based on 15 months till 31.03.2015, then is it required to file i-tax returns for both of the assessment years? if yes, then pls. clarify that how audit fee will be treated of both of the years in roc return and in income tax return?
Nikhil Kaushik
(Fellow CA)
(85509 Points)
Replied 07 May 2015
you need to file separate returns for each year. you cannot file tax return for fifteen months. You can apportion the audit fees over two assessment years based on any reasonable basis (the best being time period)
In ROC returns, you don't have to do anything as the return will be for the whole of 15 months.
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