March 15 balance sheet

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TARIQUE RIZVI (Querist)
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02 October 2015 I have drawn the balance sheet of my company in schedule VI. Some one has told me that Balance Sheet in schedule III is required for March 2015. What is the difference between Sch VI & Sch III. Whether Sch VI will not do ?

Ashok Reddy Chapa

Ashok Reddy Chapa (Expert)
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02 October 2015 Dear Rizvi,

Schedule VI is old companies act 1956

Schedule III New companies act 2013 nothing but Revised Schedule VI

There Are Some minor Changes Like
Old...................... New

Sundry Creditors -Trade Payables
Sundry Debtors -Trade Receivables

For further Information you Refer the Guidance note on revised Schedule VI issued By ICAI

Prashanth

Prashanth (Expert)
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02 October 2015 Hi,
If your talking about the revised schedule-VI, there is no change btw Revised Schedule-VI and Schedule-III, only the name has been changed