19 December 2013
sir this is with regard to a pvt company incorporated in 1st feb,2013 . my question is that the company is not yet started business wants to make first financial year as from 1st february,2013 to march,2014 can it do so then what is the annual filling date for the company . the company is not yet appointed the first auditor how they will appoint the first auditor of the company. what is the first AGm date for the company.
19 December 2013
Yes, you can consider your financial year from 01/02/2013 to 31/03/2014. The Financial year of the Company can be more than 12 months but it should not exceed 15 months without ROC's approval. [Section 210(4)].
The first AGM of the Company should be held within 18 months from the date of incorporation. Therefore your latest date of AGM can be 31/07/2014.
Annual filing can be done within 30 days (Form 23AC & 23ACA) and 60 days (Form 20B) from the date of AGM.
Regarding appointment of auditors - First auditors should be appointed within 1 month from the incorporation of company by the Board of Directors. If BOD fails to do this, they can be appointed in a General Meeting.
CAclubindia
