26 November 2010
If a pvt. co. want to change its finanical year, wat r the formalities to be done. Also tell me wat is the minimum n maximum period of financial year?
The financial year of the company is decided by the Board of director in the first meeting of the Board of director after incorporation. The first FY should be one days and maximum up to 18 months but subsequent FY should not be more than 12 months.
Any changes in FY made by Board should be intimated to the ROC as an application.
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