Voluntary choice of financial year

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 July 2016 one of my client company has incorporated in January 2016 his director wishes to make first financial statement for the period from January 2016 to 31/03/2016. as per company act, 2013 his financial year should be ended on 31/03/2017. but his voluntary wishes can't broke the limit imposed by company act, 2013.
he can do so or not ?? plz. guide

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 July 2016 Companies Act allows such extended financial year. But there is no bar in companies act for closing the accounts up to March 2016 as per the wishes of Director.

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