Dear all members,
It was previously informed vide news flaash dated March 8, 2011 that the revised Schedule VI was applicable for the year ending March 31, 2011 and thereafter. However, based on the subsequent update by the MCA on their website on March 25, 2011, the date of applicability of revised Schedule VI has now been revised to make it effective from April 1, 2011.
This would mean that the companies will continue to prepare and present their financial statements for the year ended March 31, 2011 as per existing Schedule VI to the companies Act, 1956. As informed earlier, the notification of the revised Schedule VI in the Official Gazette is still awaited.
Regards,
RJ
CAclubindia
