Requirement for cash flow for companies
This query is : Resolved
25 September 2015
Dear All,
Cash flow is required to be prepared for Small Companies only. Definition of Small Company as per Companies Act is Paid up Capital below 50 lacs and Turn over 2 Crores in the last year. What does it mean? For the FY 2014-15, whether turn over for 2014-15 or 2013-14 is required to be considered? If T.O for 2013-14 is 90 lacs and for 2014-15 is 5 crores, is there any requirement to prepare cash flow ? (Paid up Capital is below 50 lacs)
Cash flow is required to be prepared for Small Companies only. Definition of Small Company as per Companies Act is Paid up Capital below 50 lacs and Turn over 2 Crores in the last year. What does it mean? For the FY 2014-15, whether turn over for 2014-15 or 2013-14 is required to be considered? If T.O for 2013-14 is 90 lacs and for 2014-15 is 5 crores, is there any requirement to prepare cash flow ? (Paid up Capital is below 50 lacs)
26 September 2015
1. Turn over and paid up capital of the year under audit has to be considered.
2. If any one of turnover or capital or both exceeds the limits as in section 2(85), cash flow statement becomes mandatory being not a 'small company'.
2. If any one of turnover or capital or both exceeds the limits as in section 2(85), cash flow statement becomes mandatory being not a 'small company'.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Opting our of sec 44AD
- Multiple trade mark
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Transporter Declaration form
- Value of property in capital gain
- Copyright software
- LC charges in relation to Asset purchased should be Capitalised ?
- Regarding TDS Applicability For Director Remuneration
- TDS APPLICABILITY....../
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
