Uniform accounting year requirement aligns company year-end to March; transitional relief allows Registrar approvals for meeting and year extensions. The introduction of a uniform accounting year requires companies to adopt a common year ending 31 March for assessment purposes; companies closing accounts on 31 March must ensure their financial year does not exceed eighteen months. Companies may seek Registrar authorisations for extension of time to hold the annual general meeting and/or permission to extend the financial year under the relevant provisos of the Companies Act, 1956, within the Act's limits, and Registrars have been instructed to process such requests.