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Companies act 2013

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CA Rajat soni

CA Rajat soni (Querist)
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08 May 2014 it is been recommended in new comapnies act 2013 to follow a uniform financial year to all companies. every company need to end the year by 31-3___ but it is applicable from which year for the company is it 2014 or 2015.? plz help me out.

CA. Amit G. Chandani

CA. Amit G. Chandani (Expert)
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08 May 2014 Financial Year for new companies incorporated under new Act will end on 31-3-__. Transition period of 2 year is provided for existing companies. Existing companies have to align their Financial Year u/s 2(41) of Companies Act, 2013 before 31.03.2016.

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