Permission from nclt for using different financial year
This query is : Resolved
17 April 2014
Hi
can anyone please let me know time period in which NCLT permission can be taken for using different financial year in case the company is subsidiary of a company incorporated outside India as my client is having its year form 1st March to 28th feb and we have not taken any permission as yet.
Please reply its really urgent.
Regards
CA Neha Chopra
can anyone please let me know time period in which NCLT permission can be taken for using different financial year in case the company is subsidiary of a company incorporated outside India as my client is having its year form 1st March to 28th feb and we have not taken any permission as yet.
Please reply its really urgent.
Regards
CA Neha Chopra
17 April 2014
not anymore...with Companies Act 2013 coming into force, the financial year has to be compulsorily April - March.
Message likes :
1 times
18 April 2014
Hi thanks Mr. Kaushik for the frequent reply I have one more query that i have read in section 2(41) of companies Act, 2013 that the company is required to compulsorily change its financial year to april-march with in 2 years time from the enactment of the act but before that it needs to take permission from NCLT.
Please correct me if my wrong.
Kind Regards
CA Neha Chopra
Please correct me if my wrong.
Kind Regards
CA Neha Chopra
18 April 2014
Sorry Neha...I missed out the "being subsidiary of a foreign company".
under first proviso to 2(41) you have to approach the tribunal for approval of different financial year. I apologize for any confusion that my earlier reply may have caused.
under first proviso to 2(41) you have to approach the tribunal for approval of different financial year. I apologize for any confusion that my earlier reply may have caused.
18 April 2014
Hi Thanks for your reply Mr. Kaushik can you please let me know the period or the date latest by which i need to take permission from Tribunal.
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
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- Reopen of assessment proceeding
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- EPF FULL & FINAL RULES IN 2026
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Rental income gst and it purpose
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
