Revised schedule - 6

This query is : Resolved

raghav (Querist)
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17 August 2013 Profit nd loss a/c - e.g. we have an expenditure of Rs. 150000, and annual sale of Rs. 1250000, I want to ask whether such expenditure will be shown as separate item in P nd L A/C or will be added under the head of other expenses.

Ganeshbabu K

Ganeshbabu K (Expert)
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17 August 2013 As per Revised Schedule -VI Specific disclosures prescribed in the Statement of Profit and Loss, any item of income or expense which exceeds one percent of the revenue from operations or Rs. 100,000 (earlier 1 % of total revenue or Rs. 5,000), whichever is higher, needs to be disclosed separately.

Revenue from operations consisits of

(i)Sale of products
(ii)Sale of services
(iii)Other operating revenues

Thanks & regards
Ganesh babu k

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