Revised schedule vi

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ishabhalla.ca@gmail.com (Querist)
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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

Mihir Doshi (Expert)
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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

ishabhalla.ca@gmail.com

ishabhalla.ca@gmail.com (Querist)
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19 April 2012 but will it not tantamount to non-fulfillment of minimum disclosure requirement of Schedule VI?

Mihir Doshi

Mihir Doshi (Expert)
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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

Yogesh Agarwal (Expert)
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19 April 2012 DO agree with Mr.Doshi..There is no such violation.

CA Sachin D Jain

CA Sachin D Jain (Expert)
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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.

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