As per Sec 2 (41) of 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 of a year, 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:
According to above provision if suppose a company is incorporated on 05/01/2021 its year end will be 31/03/2022 and not 31/03/2021.
So do we need to to have Statutory Audit/Annual compliance for financial year end 31/03/2021 ? or directly for 31/03/2022 ?
Your help with this would be greatly appreciated.
Dear Learned Members,
In one of the cases the Trust has been established by several individuals and 2 of them are directors of the a Company.
This Company is funding the trust from several years for charitable purpose.
Whether it is to be considered as the trust is established by Company/Group Company or not? If trust deed has no names of the companies in its subscription page what will be the case?
Your opinions are welcome.
A LLP was formed about 3 months back and now partners want to strike it off. No business commenced and LLP Agreement also not filed.
Can it be done. How?
One of the auditor was appointed till 31.03.2020 in a company. When he checked on filing ACTIVE the name of the auditor has been changed. When he talk to the client they said they have changed the director. Now auditor have to file ADT-3 but the penalty comes around 5k without any legal fault. What is the remedy and why it has happened. As auditor does not have any information regarding his removal. And how can ADT-1 for appointment has been filed?
Please Help asap.
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