Schedule VI

This query is : Resolved

Dharmesh (Querist)
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19 June 2010
can Any one Explain me with example the below clause in Schedule VI of Co Act

vii. The figures in the balance sheet may be rounded off as under:
1. Less than Rs. 100 crores : to the nearest hundreds or thousands or decimal thereof
2. Between Rs. 100 crores or more, but less than Rs. 500 crores : to the nearest hundreds, thousands, lakhs or millions or decimal thereof
3. Rs. 500 crores or more, to the nearest hundreds, thousands, lakhs, millions or crore or decimal thereof

CS Jignesh Mistry

CS Jignesh Mistry (Expert)
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23 June 2010
Turnover Suppose figure is Roundoff Permissible Rounded off to*

0 – 100Crores 993354127 9933541 (in hundreds)
993354 (in thousands)

100Crores - 500Crores 4983354127 49833541 (in hundreds)
4983354 (in thousands)
49834 (in Lakhs)
4983 (in millions)

500Crores or more 10013354127 100133541 (in hundreds)
10013354 (in thousands)
100134 (in Lakhs)
10013 (in millions)
1001 (in Crores)

* Note: you can choose any one option, that is shown in P & L Account

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