Schedule vi

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22 September 2012 provision for depreciation will be shown under which head as per revised schedule vi?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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23 September 2012 Value of assets net of depreciation should be shown under 'Tangible assets' under the sub head 'fixed assets' under the main head ' assets -non current assets' and a reconciliation as stated in clause 6 I (iii) of 'general Instructions for preparation of balance sheet' shall be attached as a mandatory note to the balance sheet. Revised schedule VI does not mandate separate disclosure of 'provision for depreciation' as a liability in the balance sheet.

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