Finalise your Books of Account
Every company is obligated under section 128 of The Companies Act to prepare and keep at its registered office proper books of account. At the end of the FY the financial statement is prepared in form of Balance Sheet and Profit & Loss A/c.
Prepare Computation of Income Tax
After finalisation of the account, a computation of income tax is prepared as per the provisions of the income tax act, after taking credit of TDS and advance tax already deposited. The end result of the computation is either tax payable or refund.