Accounting Standards
This query is : Open
29 June 2011
Dear Sir,
Whenever there is a conflict between the Accounting Standards issued by ICAI, statute and Revised schedule VI, which one should be followed in priority.
Whenever there is a conflict between the Accounting Standards issued by ICAI, statute and Revised schedule VI, which one should be followed in priority.
29 June 2011
Provisions of Schedule VI will prevail over Accounting Standard
30 June 2011
Hi,
First of all let me clarify that statute here is referred to Companies Act 1956.
And I hv been told by my A/c's teacher that prority should be as follows:
1.AS
2.Co. Act 1956
3.Revised Shcedule VI
If you can validate your answer with some reference, please.
First of all let me clarify that statute here is referred to Companies Act 1956.
And I hv been told by my A/c's teacher that prority should be as follows:
1.AS
2.Co. Act 1956
3.Revised Shcedule VI
If you can validate your answer with some reference, please.
30 June 2011
Accounting Standard will prevail over Provisions of 'Revised Schedule VI'
i didnt see the word revised in your quest,,
i didnt see the word revised in your quest,,
01 July 2011
Sir,
kindly give some refference regarding this matter,to validate this answer.
Their is a long discussion going on this issue among my colleagues.
kindly give some refference regarding this matter,to validate this answer.
Their is a long discussion going on this issue among my colleagues.
01 July 2011
https://www.primeacademy.com/murugappa-prime-scheduleVI-vt.pdf
GREEN COLOUR TEXT ARE NEW PROVISIONS
GREEN COLOUR TEXT ARE NEW PROVISIONS
04 July 2011
Sir,
what about the Co.Act 1956, where does it ranks.
what about the Co.Act 1956, where does it ranks.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- TDS Deducted AY-2013-14 Not Reflected in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- ADVANCE PAYMENT OF ADVOCATE
- Eway bill not cancelled within 24 hous what can be due
- DIN reactivation
- TDS Return Q1 FY 2026-27
- UNWANTED CREDIT BALANCE OF GST AS PER BOOKS
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
