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Query

PREM RANJAN.V.P (Govtservice) (29 Points)

31 May 2017

whether amount not repartiable can be included in balance balances

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3 Replies

Shanker Agarwal (CA in practice) (6 Points)
Replied 31 May 2017

Which balance?

PREM RANJAN.V.P (Govtservice) (29 Points)
Replied 31 May 2017

under Current Asset

Cash and cash equivalents

Sanjay S (Chartered Accountant) (1375 Points)
Replied 02 June 2017

Classification under Cash and cash equivalents:

Cash and cash equivalents shall be classified as:-

a.		Balances with Banks (of the nature of cash and cash equivalents);
b.		Cheques, drafts on hand;
c.		Cash on hand; and
d.		Balances with Banks (subject to Repatriation Restrictions)

As per Schedule III of Companies Act, 2013, the bank/Cash balance which are subject to repatriation restrictions needs to separately shown under 'Cash & Cash Equivalents'.