Audit of company

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 August 2014 Respected Member

A Pvt Ltd Co. is incorporated on 15.03.2014 and there is not a single business transaction till 31.03.2014. Please tell me with ref to companies act that whether there is requirement of Statutory audit for the FY 2013-14 or not?

Ankur Garg

Ankur Garg (Expert)
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18 August 2014 As per section 139 of CA 2013, stat Audit is compulsory for all companies. A formal audit report from auditor would be enough.

Last date for holding AGM in your case would be 31.12.2014 as per section 96.

Thanks

Querist : Anonymous

Querist : Anonymous (Querist)

18 August 2014 Thanks for your reply.
Sir, if we consider the first FY from its incorporation date i.e from 15.03.2014 to 31.03.2015 ( as per sec 210 of Cos Act-1956 which may be for 15 months),in that case could we take statutory audit in 2015 for the period from its incorporation to 31.03.2015?

Thanks

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