I have incorporated a new pvt ltd company as on 27.10.2009 and no accounts has made till 31.03.2011 can i made accounts for the period 27.10 to 31.03.2011? Which forms i have to file as annual filing at MCA site?
28 May 2011
In case the Board of Directors of the Company at its first meeting, to be held within 30 days from the date of incorporation, has adopted the first financial year of the Company from 27.10.2009 to 31.03.2011, accounts be drawn for such period.
The first Annual General Meeting of the Company has to be convened within 18 months from the date of incorporation, i.e. on or before 26.04.2011.
The annual filing will be as under:
1. Form 23AC & 23ACA for filing balance sheet and profit and loss account under section 220 of the Companies Act, 1956 within 30 days from the date of AGM,
2. In case the paid up capital of the Company is more than Rs.10 Lacs but less than Rs. 5 Crores and the Company has not appointed a Company Secretary, then u have to obtain Secretarial Compliance Certificate from a Practicing Company Secretary and the same has to be file in Form 66 within 30 days from the date of AGM,
3. Annual Return in Form 20B and as per schedule V under section 159 within 60 days frm the date of AGM.
30 May 2011
Since the company is incorporated on 27.10.2009, you can choose your first accounting perdiod from 27.10.2009 to 31.03.2011.
However first AGM of the Company need to be held on or before 26.4.2011 (within 18 months of incorporation, Section 166) and the accounts of the company need to be adopted by the members in that meeting. So if your accounts and AGM can be managed before 26.4.2011, then accounting period 27.10.2009 to 31.03.2011 is fine.
Another option would have been to close your accounts on 31.03.2010 in which case you should have held your AGM before 31.12.2010 as per Section 210(3)(a) (Maximum Gap of 9 months between accounts closing and AGM). Since this is not done and now getting condonation of delay, etc. will be a time consuming process, the procedure stated above would be better.
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