Extension of Financial year

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Rishi (Querist)
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02 April 2010 1. What is the procedure for extension of Financial Year of the Company from 12 Months to 18 Months??

2. What are the formalities that we need to comply with (wrt Company Law or any other Corporate Acts)?

3. Which approval from which all authorities is required?

Ankur Garg

Ankur Garg (Expert)
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02 April 2010
For extension of financial year you have file an application to concerned ROC through filing of E-form 61.

Simply pass a board resolution for extension of financial year

RESOLVED THAT subject to the special permission of the Registrar of Companies, Income Tax authorities and such other approvals and sanctions as may required in this regard, an application under section 210(4) of the Companies Act, 1956 be submitted to the Registrar of Companies for extension of financial year and for preparation of accounts covering a period of 18 months i.e. from 1st April, 2005 to 30th September, 2006 and Mr. Prakash Somani, Director of the Company be and is hereby authorised to comply with all other formalities in this regard.

RESOLVED FURTHER THAT the subsequent financial years of the company be commencing from 1st October, 2006 and ending on 30th September, 2007.

RESOLVED FURTHER THAT an application in the e-Form 61 be made under section 210(4) of the Companies Act, 1956 for obtaining the permission for extension of accounting year.

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