First financial year

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 March 2015 Hi,
A Pvt Ltd Company was incorporated on 6th January 2014. What will be the period for which its first financial year.
Is it up to 31.03.2014 or 31.03.2015.

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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13 March 2015 As per section 2(41) of the Companies Act, 2013

“financial year”, in relation to any company or body corporate, means the
period ending on the 31st day of March every year, and where it has been incorporated on or after the 1st day of January of a year, the period ending on the 31st day of March of the following year, in respect whereof financial statement of the company or body corporate is made up:

As per the definition, in your case FY is 31.03.2015

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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13 March 2015 6/1/2014 to 31.3.2014 - 1st year

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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13 March 2015 Seems the view of Sampath Ji is correct since section 2(41) came into force from 1-4-2014.

Querist : Anonymous

Querist : Anonymous (Querist)

13 March 2015 Thanks to all of you for quick reply...

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