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Period of Financial Statements

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(Querist)
30 May 2021 As per Company's act , is it compulsory that annual financial statements are to be prepared for period ending 31st March or Financial statement may be prepared for other period like 30th June or 30Sept because there are certain business where annual business cycle is different.?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
30 May 2021 Yes, Section 2(41) of the Companies Act, 2013 specify the definition of Financial year of a Company/Body Corporate.
Financial year means the period ending on 31st of March of every year.
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