Reg. mention of Turnover in ROC Form23ACA-Page 3 - III. T/o.

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Guest (Querist)

14 October 2009 Query Regarding mention of Turnover in ROC Form 23ACA - Page 3 - III. Turnover details.

A is a private company doing the business of 'commission agency'.

The company has no business for FYE 31.03.09 and hence, no income out of his 'commission agency' business.

However, the company has earned interest income out of its Fixed Deposits with bank say Rs.12000/-.

Whether in Form 23ACA - Page 3 - III. Turnover details - Should we mention Rs.12000/- in the 'Turnover' field (as in Balance Sheet Abstract - we mention this amount Rs.12000/- as 'Turnover' under the heading 'Performance of the Company').

Is it appropriate putting this amount here, when there is no actual business and income from business.

Experts' views are appreciated.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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15 October 2009 If the interest income is income from business then in turnover otherwise not main business then other income.

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Reg. mention of Turnover in ROC Form23ACA-Page 3 - III. T/o.

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