Balance sheet as per revised sch vi
This query is : Resolved
priya agrawal
(Querist)
13 July 2013
If a newly formed company has not started any business yet, how shall it treat its priliminary expenses as per the revised schedule VI?
whether 1/5th of such amount should be w/o in P/L A/c or not?
And if the company is not supposed to start the business in current F.Y. also, should the amount to be defferred next year be shown under current asset or the full amount should be shown under non-current assets?
whether 1/5th of such amount should be w/o in P/L A/c or not?
And if the company is not supposed to start the business in current F.Y. also, should the amount to be defferred next year be shown under current asset or the full amount should be shown under non-current assets?
15 July 2013
Hello,
Charge to the P&L if the company has commenced the business or else shown under the head current asset if your are going w/o within 12 Months or else under Non-Current Asset.
Charge to the P&L if the company has commenced the business or else shown under the head current asset if your are going w/o within 12 Months or else under Non-Current Asset.
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- 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
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
