Applicability of revised sh vi

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CA B PALANIKUMAR (Querist)
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02 June 2012 Sir,

Whether Revised Sh VI is applicable to company which is newly formed..if so,
then how can we give the corresponding comparative info preceeding the previous year..

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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02 June 2012 Revised schedule VI is applicable for all companies whose accounts are prepared from 1/4/2011. Therefore, if a company is incorporated in a day falling in financial year 2011-12, new schedule VI applies. Previous year figures need not and cannot be furnished for the first financials prepared since incorporation.

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