2 responses to “General Circular 08 of 2014 and Financial Year

  1. Dear Sir,

    Thanks for the imputs on the financial year.

    As stated by you with the approval of tribunal company can use different financial year. Is it really possible? What measures to be taken in this regard?

    Best Regards,
    CS Medha Rai


    • 1. This time a distant possibility as NCLT is not a reality.
      2. This is possible in case of Holding or subsidiary of a company incorporated out side India [See Definition Clause (42) of Section 2]
      3. Consolidation of Account must take place outside India.


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