Revised schedule vi
This query is : Resolved
19 April 2012
My query is related to Presentation of Balance sheet as per Schedule VI.If i dont have investments then is it necessary for me to show that head in balance sheet with zero as corresponding value or should i not mention it in balance sheet as the impact is nil.
Mihir Doshi
(Expert)
19 April 2012
Dear,
If you do not have Investment in your Balance sheet then there is no need to show head and Value zero. You should not disclose the head on the face of balance sheet
If you do not have Investment in your Balance sheet then there is no need to show head and Value zero. You should not disclose the head on the face of balance sheet
19 April 2012
but will it not tantamount to non-fulfillment of minimum disclosure requirement of Schedule VI?
Mihir Doshi
(Expert)
19 April 2012
How it tantamounts to violation. Make sure that last year also you dont have any investment otherwise it tantamounts to hiding of information
Yogesh Agarwal
(Expert)
19 April 2012
DO agree with Mr.Doshi..There is no such violation.
CA Sachin D Jain
(Expert)
09 May 2012
No violation is involved in such case as told by Mr. Doshi. However, in my view, even a Nil figure is also an amount, and it's also a mean of communication to the reader of financial statements. Further, if a company disclose all heads on the face of BS and PL, as per format, then it become easy for the users of financial statements to compare the BS and PL with that of the other companies.
Suggestions are invited.
Suggestions are invited.
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