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DharaDhara asked 4 years ago

Sir in tax audit its discussed that it can be different from Definition of Financial year of a company.
But while discussing company audit amendments Financial year has to be Apr-March ,
So Financial year definition doesn’t apply to tax audit of a company?

1 Answers
RaviRavi Staff answered 4 years ago

For taxation purpose financial year is fixed Apr-Mar
Earlier in company act we had freedom for any financial year and even today after taking permission from tribunal company can have any financial year in certain situation. In this mismatch between financial year under both laws can happen.

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