Can a company change its finacial year, i.e. choose its own financial year which is different from (April 1 to March 31).
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Can a company change its finacial year
Replies (4)
You cannot change the year for Income Tax purose, filing would have to be done as per Apr to Mar basis.
Though you can have a different financial year for filing with Registrar of Companies (ROC) which is required under Companie Act .
Regards
Ramesh
A company means a company registered in the COMPANIES ACT ,1956 . As per companies act all companies are statutorily required to follow the FINANCIAL YEAR on april - march basis only . This was declared in a circular some 4-5 years back .It cannot change the financial year .
Yes.A company at its own discretion can choose its financial year from july -june or otherwise. Its not mandatory that the financial yaer of a company should be from Apr-Mar.Only in case of filing of ITR-6 the transactions related to Apr-Mar should be considered.
Yes but for e filing u have to make books up to 31st match
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