samasundar (Accounting & Compliance) (65 Points)
19 July 2015What is the procedure for colsing the books of accounts of private limited company which was incorporated on Feb 2014, for more the 12 months?
prakash
(Company Secretary)
(1352 Points)
Replied 19 July 2015
Dear Sundar,
As per section 2(41) of the Companies Act, 2013 "Financial year" In relation to any company or body corporate, means the period ending on the 31st day of March every year and where it has been incorporated on or after the 1st day of january, the period ending on the 31st day of March of the following year, in respect whereof financial statement of the company or body corporate is made up:
Hence, your company is incorporated after january, 2014, the period ended on the 31st day of march 2015 in respect of which your company financial statements are to be made.
No procedure need to be followed
Parth Sharma
(Practicing Company Secretary)
(688 Points)
Replied 01 August 2015
CAclubindia
