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Applicablitiy of schedule vi

1216 views 2 replies

C Srivats

audit

28 Points Posted on 31 December 2011

i have a huge confusion in the applicability of schedule VI. now its applicable for financial year 2011-12 ie from 01/04/2011.

but now what if my financial year is calendar year. ie. from 01/01/2011 to 31/12/2011. Is the revised schedule vI applicable for the whole of financial year itself or is it applicable from a particular date. im under ambiguity regarding the wordings of the MCA clarifications. please help

Replies (2)

nidhigoel89

Company Secretary

596 Points Posted on 31 December 2011

Hello,

I dont think so that revised schedule will be applicable in your case. As the notification state that it will applicable to the financial year commencing after 01st April, 2011.

Contrary views are solicited.

Regards

Nidhi

CA. Rahul Dwivedi

Head

298 Points Posted on 31 December 2011

As i understood Revised Schedule VI will be applicable for the financial year commencing on or after April 01, 2011. As your FY is Jan - Dec 2011 so it will not be applicable for current year.

"If any one has contrary view /notification in the matter pls quote it"

Rahul