About the First Financial Year, it is mentioned in ICSI Advanced module :
"This means, for a company incorporated on 1st day of January 2015, the first financial year shall be closed on 31st day of March 2016 and Annual General Meeting should be convened on or before 31st day of December 2016. However for a company incorporated on 31st day of December 2014, the first financial year shall be closed on 31st day of March 2015 and Annual General Meeting should be convened on or before 31st day of December 2015."
So, If a company is incorporated on 04-Jan-2018, then it's first financial year would start on 04-Jan-2018 & end on 31-Mar-2019 & financial statement is needed to be filed for complete period of 04-Jan-2018 to 31-Mar-2019 (about 15 months). And, no seperate financial statement is required for 04-Jan-2018 & 31-Mar-2018. Pl. guide.
Thanks!!!
CAclubindia
