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Balance sheet filed

venkat (MANAGER- ACCOUNTS) (62 Points)

07 June 2016

Our Company Commercial Production is Started on March 24th 2016 , But We would filed balance sheet with out P& L A/c . due to Loss with depreciation. is it possible?

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2 Replies

Ruchi (CA) (1410 Points)
Replied 07 June 2016

Yes. You can say sales turnover as zero and claim loss due to expenses such as depreciation etc. In your p&l. You will have to fill p&l for this.

venkat (MANAGER- ACCOUNTS) (62 Points)
Replied 07 June 2016

Thank you sir,

My company commercial production started on 24.03.2016. for Rs. 1.50 lacs. But depreciation on assets is 27 lacs. So we r going to loss. It's very bad to submission of projections to bank. So how to avoid depreciation. Pls give me answer. Is it chance to move to next financial year or depreciation divided to pre depreciation (under pre operative) and post depreciation (P&l)

Pls give ur reply