ROC annual filing financial year

This query is : Resolved

Gst Registration (Querist)
Follow

26 May 2025 Their was a company which was incorporated on 11/12/2023 ans as per rules its financial year is to be closed on 31 march 2024 and AOC-4 MGT-7 needed to be filed in same year.
But it was not done and in this year AOC-4 & MGT-7 is filed in may month 2024 by taking financial year from 11/12/2023 to 31/03/2025 forms are approved.
So it will create any issue in future?

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
Follow

12 August 2025 Possible Issues & Implications:
Non-compliance of financial year length

As per Section 2(41) of Companies Act, financial year can be maximum 12 months except for the first financial year which can be shorter but not longer than 12 months.

Filing accounts for 18 months (11 Dec 2023 to 31 March 2025) is not in compliance.

ROC may raise a query or show error

Though forms are approved now, ROC may question the extended financial year in future years or during audits.

Impact on future filings

If the first financial year is treated as 18 months, the subsequent financial year will be short (or the company may face confusion in filing subsequent returns).

Taxation authorities (Income Tax, GST) may also raise queries on mismatch in financial year.

Rectification

Best practice is to file a Board resolution to change financial year (if possible) and file revised AOC-4 correcting financial year.

Consult ROC or Company Secretary to file Form ACTIVE/ ADT-1 if needed to notify change.

Take professional advice for Income Tax consequences (since tax returns are linked with financial year).

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now