For which year projected, estimated file should be prepare ?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 May 2016 Sir,

Please suggest me i dnt have any income tax file, now i want projected ,estimated file for the bank loan purpose .Can you please suggest me for which year the estimated and projected file will be prepare.

CA CMA CS Ram Pavan Kumar Melam

CA CMA CS Ram Pavan Kumar Melam (Expert)
Follow

03 May 2016 Current year figures are estimated and future year figures are projected.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

03 May 2016 sir,
Do i have to prepare Fy 2014-15, and estimated is 2015-16 and projected is 2016-17.
Am i right sir.

Rupesh Jain

Rupesh Jain (Expert)
Follow

03 May 2016 yes you cam prepare the 2014-15 and also you can final the 2015-16 due to year is closed. and projection for 2015-16

Message likes : 1 times

CA CMA CS Ram Pavan Kumar Melam

CA CMA CS Ram Pavan Kumar Melam (Expert)
Follow

03 May 2016 If the entity was in business for past three years, then prepare a statement of financials comprising of balance sheet, profit and loss account and cash flow along with required analysis for:
1) Actual figures (preferably audited) for the past three years including FY2015-16;
2) Current year estimates i.e. FY 2016-17;
3) Projected figures for next year i.e. FY 2017-18 (for working capital) / till the estimated repayment of loan (in case of loan repayable more than one year) i.e from FY 2017-18 till the year of repayment of loan.

Also submit year to date provisional figures to the bankers to appraise the genuinity of current year estimates.

Querist : Anonymous

Querist : Anonymous (Querist)

03 May 2016 SIR
RUPESH JAIN IS FY 2015-16 WILL BE THE ESTIMATED ONE,IF SO THEN WHAT ABOUT FY 2014-15 IS IT ALSO ESTIMATED.

CA CMA CS Ram Pavan Kumar Melam

CA CMA CS Ram Pavan Kumar Melam (Expert)
Follow

03 May 2016 Audited figures for FY 2013-14 and FY 2014-15; Actual for FY2015-16 (unaudited / due for audit)
Estimate for FY2016-17.

Do not confuse.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now