Period of Financial Statements
This query is : Resolved
30 May 2021
As per Company's act , is it compulsory that annual financial statements are to be prepared for period ending 31st March or Financial statement may be prepared for other period like 30th June or 30Sept because there are certain business where annual business cycle is different.?
30 May 2021
Yes, Section 2(41) of the Companies Act, 2013 specify the definition of Financial year of a Company/Body Corporate.
Financial year means the period ending on 31st of March of every year.
Financial year means the period ending on 31st of March of every year.
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