Disclosure as per revised schedule vi
This query is : Resolved
29 May 2012
A company has investment in HDFC Cash Management Fund-Treasury Advantage Plan-Weekly Dividend plan(dividend is reinvested) since last 3 years.
It undertakes various transactions of purchase & sale of units of the MF throughout the year.
Now whether should we disclose this investment as Non-current/Current investment as per Revised Sch. VI?
It undertakes various transactions of purchase & sale of units of the MF throughout the year.
Now whether should we disclose this investment as Non-current/Current investment as per Revised Sch. VI?
29 May 2012
If the investment is a "fixed maturity plan" then you may consider the maturity profile for bifurcation into current and not current.
If it is a liquid scheme with T+1 settlement then it is a demand asset and hence qualified to for current classification.
If it is a liquid scheme with T+1 settlement then it is a demand asset and hence qualified to for current classification.
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