Schedule vi
This query is : Resolved
SUNIL THAKUR
(Querist)
18 November 2011
DEAR SIR,
WHAT IS NEED OF REVISING SCHEDULE VI OF COMPANIES ACT 1956 ?
WHAT IS NEED OF REVISING SCHEDULE VI OF COMPANIES ACT 1956 ?
Surendra Gupta
(Expert)
19 November 2011
The schedule VI appears to have been revised to be more transparent/to follow the International Accounting Standards
CA Nikhil Jhanwar
(Expert)
19 November 2011
To add, New IFRS converged Ind-AS are based on international accounting principles. Now in revised Sch VI classification of assets & liabilities, format of B/s and P & L has been changed to make it compatible with new IND-AS and global practices.
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