Revised schedule vi
This query is : Resolved
anurag hans
(Querist)
05 June 2012
Dear Friends,
Please tell me about the changes regarding rounding off to nearest rupee 100 or decimal thereof with some examples
Let say i have a figure RS. 1,32,534 how it can be presented in revised schedule VI.
Thanks & Regards
Anurag Hans
Please tell me about the changes regarding rounding off to nearest rupee 100 or decimal thereof with some examples
Let say i have a figure RS. 1,32,534 how it can be presented in revised schedule VI.
Thanks & Regards
Anurag Hans
05 June 2012
Firstly, it is not compulsory to apply rounding off and a company can continue to disclose full figures. But, if the rounding off is applied, requirements of Schedule VI shall be complied with.
As per Revised Schedule VI, method of rounding off depends on the turnover of the company.
If turnover is less than Rs. 100 Crores - Round
off to the nearest Hundreds, thousands,
lakhs or millions or decimal thereof (as per the choice of the company)
If Turnover exceeds Rs. 100 Crores - Round
off to the nearest lakhs, millions or
crores, or decimal thereof (as per the choice of the company)
As per Revised Schedule VI, method of rounding off depends on the turnover of the company.
If turnover is less than Rs. 100 Crores - Round
off to the nearest Hundreds, thousands,
lakhs or millions or decimal thereof (as per the choice of the company)
If Turnover exceeds Rs. 100 Crores - Round
off to the nearest lakhs, millions or
crores, or decimal thereof (as per the choice of the 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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- GSTR-9C filing
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- Import Order Cancelled.
- Capital Gains Tax on Inherited Mutual Fund
- IMS (import of goods) ITC related
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
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
