15 November 2010
Yes in case of first financial year or for the purpose of consolidation with holding company sometimes year ending is changed from 12 months to 9 months i. e. from April - Dec for one year.
Yes, you can your financial year less than 12 months in case of newly incorporated company. The first financial year will be decided in the first Board meeting and it can be less than 12 months but the subsequent financial year can not be less than 12 months.
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