First annual general meeting
This query is : Resolved
21 October 2016
A private limited company was incorporated on 02/01/2015, hence Company has not held its first AGM on or before 30/09/2015, as per definition of financial year as per companies act, 2013, financial year can be of 15 months if incorporated in Jan-Mar,
My query in Balance Sheet , Company has shown figure for both financial year i.e. 31/03/2015 and 31/03/2016, is it allowed.
My query in Balance Sheet , Company has shown figure for both financial year i.e. 31/03/2015 and 31/03/2016, is it allowed.
22 October 2016
Obviously not. Your first financial year shall be from 02.01.2015 till 31st March, 2016. How are you gonna have previous year figure in this???
Message likes :
1 times
22 October 2016
I think your question relates to Balance Sheet and not P&L. Answer is "NO" for both. Only for management purpose, you may like to compare BS figures of 31st March 2015 and 2016. For audited accounts there is financial year ending as at 31st March 2015, hence you cannot show.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Building tax payment deduction in rental Income
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- F & O PROFIT REPORTING FOR AY 2026-27
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
