Revised schedule vi
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 February 2012
Please tell me wheather Revised Schedule VI of Companies Act,1956 is applicable to Indian Project Office and Liason Office in India??
28 February 2012
In my view, the amendments in Schedule VI of the Companies Act will be applicable to the Liaison office accounts due to the following reason: Vide Section 594(1) every foreign company is required to prepare a bsheet and p/l account of its Indian business in acc with Section 211 read with parts I and II of Schedule VI to the Companies Act, 1956. The CLB has notified that clause (a) of subsection (1) of Section 594 shall apply to the company under question with certain exceptions and modifications ie prep of statement of receipts and payments instead of P/L account and a statement of assets and liabs instead of a B/sheet. Thus the provisions no excepted or modified would continue to apply..hence the parts I and II of schedule VI would apply too.
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
- Post Office RD Interest
- Eway bill for machinery reparing
- Building and other construction workers welfare cess act 1996
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- ITR validation error - Balance sheet is not filled
- Applicable TDS for Purchase of Flat from NRI
- Bank Accounts in Balance Sheet for ITR 3
- TDS ON CASH WITHDRAWALS...
- Annual return of gst limit
- Form 10BD Filling
- Change the gender in the registration of icai
- Lift replacement entries in housing society
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
