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New Financial year will end on 31 march or 30 june for company?

Kumar (Partner) (149 Points)

28 March 2020

New Financial year for company will end on 31 march or 30 June? i.e 1 April 2019 to 31 march 2020 OR 1 April 2019 to 30 June 2020? Date extended due to COVID-19?

Please clarify.

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4 Replies

RAJA P M ("Do the Right Thing...!!!") (127058 Points)
Replied 28 March 2020

31st March-2020...
No more changes in periods of FY. It's from Apr-19 to Mar-20 for FY 19-20.

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Bhargav (cpt) (50 Points)
Replied 28 March 2020

As of now no notification has released by MCA for change in financial year, but RBI has changed the financial year ending to june 30 2020 and it is applicable for banks not for companies

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Spurto Consultancy Services (Consultant) (1891 Points)
Replied 28 March 2020

The FY 2019-20 will end on 31.03.2020 i,e, the FY will comprise of the period April 2019 to March 2020

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(Guest)

@ Bhargav
RBI shift its F.Y. from July, 2020 to Mar, 2021 and its nothing to do with reporting period of Banks in India.

Reporting period of Indian banks were always
Apr - Mar

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