Closing books of accounts of small company @18 months

Pvt ltd 461 views 2 replies

What is the procedure for colsing the books of accounts of private limited company which was incorporated on Feb 2014, for more the 12 months?

Replies (2)

Dear Sundar,

As per section 2(41) of the Companies Act, 2013 "Financial year" In relation to any company or body corporate, means the period ending on the 31st day of March every year and where it has been incorporated on or after the 1st day of january, the period ending on the 31st day of March of the following year, in respect whereof financial statement of the company or body corporate is made up:

Hence, your company is incorporated after january, 2014, the period ended on the 31st day of march 2015 in respect of which your company financial statements are to be made.

No procedure need to be followed

 

 

Your books can be closed on March 31, 2015. Refer Section 2(41).


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