28 February 2015
Please note that according to Section 2(41) of the companies act 2013 company can follow first FY from Jan to March of the following year.. which means if comp incorporated in Jan 14 can close first FY on March 15 instead of March 14 My Question is whether the company needs to apply to ROC for the same in GNL-1 or not? Kindly Clarify whether CA 1956 or CA 2013 applicable to such company
28 February 2015
Not required. First financial year can be extend upto 15 months... This provision is available only for those company incorporated between 01st Jan to 31st March.
05 March 2015
Even though Companies Act 1956, Section 2(17) read with Section 210 provides for 15 months financial year for companies incorporated in January & thereafter But i m not Sure whether any approval required for the same from ROC
CAclubindia
