21 October 2016
A private limited company was incorporated on 02/01/2015, hence Company has not held its first AGM on or before 30/09/2015, as per definition of financial year as per companies act, 2013, financial year can be of 15 months if incorporated in Jan-Mar,
My query in Balance Sheet , Company has shown figure for both financial year i.e. 31/03/2015 and 31/03/2016, is it allowed.
22 October 2016
Obviously not. Your first financial year shall be from 02.01.2015 till 31st March, 2016. How are you gonna have previous year figure in this???
22 October 2016
I think your question relates to Balance Sheet and not P&L. Answer is "NO" for both. Only for management purpose, you may like to compare BS figures of 31st March 2015 and 2016. For audited accounts there is financial year ending as at 31st March 2015, hence you cannot show.
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