Financial statement-
This query is : Resolved
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CA Nidhi Kanabar
(Querist)
15 May 2025
hello
Partnership firm whose turnover up to 100 crore is required to prepare vertical balance sheet from F.Y 2024-25 onwards???
Partnership firm whose turnover up to 100 crore is required to prepare vertical balance sheet from F.Y 2024-25 onwards???
Dhirajlal Rambhia
(Expert)
15 May 2025
A partnership firm with turnover up to ₹100 crore is recommended-but not required by law-to prepare its financial statements, including a vertical balance sheet, as per the ICAI's new guidance from FY 2024-25 onwards.
Adoption is optional, but it is considered best practice for firms seeking improved compliance and presentation.
Adoption is optional, but it is considered best practice for firms seeking improved compliance and presentation.
Dhirajlal Rambhia
(Expert)
28 September 2025
Good luck.....
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