As per Companies Act 2013, financial year will end on 31st March every year, however if a company is formed on or after 1st January, its F.Y. will end on the 31st of March of next year.
e.g. for a company incorporated on 17th Feb' 2015; its F.Y. will end on 31st March' 2016.
There is only one exception & that is if the foreign parent of a company has its F.Y. ending on any other date then for the purpose of consoidation the indian subsidiary can have a F.Y. ending on that other date provided an application was given to NCLT & the same was approved.