hello friends,
Can a company in India prepare the first financial statement for the first 18months of its incorporation.?????
2 Replies
CA RICHA BADALIA
(CA,CS)
(1682 Points)
Replied 13 October 2011
Financial year shall not exceed 15 months.It can be extended to 18 months if the registrar grants special permission in this regard.
CA VISHAL RANA,CS,B.Com,AMFI
(Chartered Accountant in Whole Time Practice)
(4354 Points)
Replied 14 October 2011
As per Complement of Richa Financial year can't exceed 15 month but it may be allowed 18 month after permission of ROC
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