Financial year for a society
This query is : Resolved
CA. Rahul Mishra
(Querist)
27 September 2011
Dear Members,
What will be Financial year for a Society registered under the Societies Registration Act 1860 if the rules & MOA of the society are silent ? Will it be different from the normal Financial Year ?
What will be Financial year for a Society registered under the Societies Registration Act 1860 if the rules & MOA of the society are silent ? Will it be different from the normal Financial Year ?
CA Pushpendra Gaur
(Expert)
28 September 2011
brotehr
financial year is fixed as 1 April to 31 March
financial year is fixed as 1 April to 31 March
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CA Pushpendra Gaur
(Expert)
28 September 2011
it is the accounting period which we determine as per our need/convenience
CA. Rahul Mishra
(Querist)
28 September 2011
Dear Pushpendra,
Thanks for replying but the first Financial year of a company may not be the period of just 12 months as it may get extended to 18 months to the maximum.
My query was relating to this only. Say if any society has been registered during February 2010, whether the First Financial Year will be 2009-10 or it could be 2010-11.
Thanks for replying but the first Financial year of a company may not be the period of just 12 months as it may get extended to 18 months to the maximum.
My query was relating to this only. Say if any society has been registered during February 2010, whether the First Financial Year will be 2009-10 or it could be 2010-11.
CA Pushpendra Gaur
(Expert)
29 September 2011
well definately the financial year will be 2009-10 in that case, no doubt
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