Section 2(41)-first financial year from jan-14 to march 15


28 February 2015 Please note that according to Section 2(41) of the companies act 2013 company can follow first FY from Jan to March of the following year.. which means if comp incorporated in Jan 14 can close first FY on March 15 instead of March 14
My Question is whether the company needs to apply to ROC for the same in GNL-1 or not?
Kindly Clarify whether CA 1956 or CA 2013 applicable to such company

28 February 2015 Not required. First financial year can be extend upto 15 months... This provision is available only for those company incorporated between 01st Jan to 31st March.

28 February 2015 @ Nayak Ji

2(41) is w.e.f 1.4.2014. Whether applies to company incorporated on January 2014.

@ Pravin Ji

View other than of Nayak Ji will hit out section 129(2) of Co's Act,2013.


05 March 2015 Even though Companies Act 1956, Section 2(17) read with Section 210 provides for 15 months financial year for companies incorporated in January & thereafter
But i m not Sure whether any approval required for the same from ROC



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