Changing financial year & filing returns
This query is : Resolved
Vidhya Sridhar
(Querist)
11 April 2014
Can a private company having its Headquarters outside India will be allowed to change its financial year from Apr-Mar to Jan-Dec coinciding with its HO. Also, can anybody clarify that Income tax AY and filing returns will also be allowed for Jan-Dec.
Some said we can apply to Tribunal to change the fiancial year but returns needs to be filed for Apr-Mar only.
Some said we can apply to Tribunal to change the fiancial year but returns needs to be filed for Apr-Mar only.
11 April 2014
no, as all companies in india needs to follow apr - march as its FY only.
Nikhil Kaushik
(Expert)
11 April 2014
well under companies act 1956, you were permitted to follow different financial year. more than 250 listed companies actually followed different financial years.
however, under new companies act, you need to follow april march only.
however, under new companies act, you need to follow april march only.
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