SHRIRAM PRASAD (MANAGER COMPLIANCE) (111 Points)
11 August 2015Dear Professionals,
One of my friend's client company closed financial Year on 31.12.2014. Now the company wants to close its financial year on 31.03.2015.
Can it be done?
What is the procedure to change financial year under companies act 2013.
Kindly help !
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 11 August 2015
Just pass a Board resolution.
Second proviso to Sec.2(41) asks all existing companies to align financial year to March-end as per CA 2013 within a period of two years from commencement of CA 2013.
prakash
(Company Secretary)
(1352 Points)
Replied 11 August 2015
Dear Prasad,
By passing Board Resolution it can align it financial year as per provision of ACT.
CAclubindia
