New Schedule VI

Change in the applicability date of revised Schedule VI of the Companies Act, 1956

As you are aware, the Ministry of Corporate Affairs (MCA) had earlier announced on its website that the revised Schedule VI is applicable from the financial year 2010-11 onwards. On 25 March 2011, the MCA has changed this note on the website to state that the revised Schedule VI will apply from 1 April 2011. We have however not yet seen any formal circular/notification on the MCA website.

 

Source: Taxguru

NOTIFICATION [F. NO. 2/6/2008-C.L-V], DATED 30-3-2011 G.S.R (E)- In exercise of the powers conferred by clause(a) of sub-section(1) of section 642 read with sub-section(1) of section 210A and sub-section (3C) of section 211 of the Companies Act,1956, (1 of 1956), the Central Government hereby makes the following amendment to paragraph 2 of the notification No.447(E) dated the 28th February,2011.:- “ The notification shall come into force for the Balance Sheet and Profit and Loss Account to be prepared for the financial year commencing on or after 1.4.2011”. [F. No. 2/6/2008-C.L-V] Avinash K. Srivastava Joint Secretary Note: – The principal notification was published in the Gazette of India, Extraordinary, vide G.S.R. No.414, dated the 21st March, 1961 last amended vide S.O. No.447 (E) dated the 28th February,2011.

it is applicable from fy 2011 -12

Refer link

/forum/applicability-of-revised-schedule-vi-146900.asp

Thanks to al of you....

yes it is applicable from 1st of April' 2011.

View this link for the new schedule 6:

/forum/revised-schedule-vi-145981.asp

Thank U.....

Thanks a lot for sharing the information....

No it is not applicbale. We may received a notification within 15 to 20 days that New schedule VI will not be applicbale for Nov 11 exams. The information was given by Mr G.sekar.

As per the students journal for June 2011 Schedule VI revised will be applicable for November 2011 exams...............Though it is applicable from the FY 2011-12 and questions will be on FY 2010-11 it is applicable for exam purpose........So see the student journal......

 

PLEASE TELL ME THIS THAT WHETHER THE CHANGES IN SCHEDULE-6 OF BALANCE SHEET AND PROFIT & LOSS ACCOUNT IS GOING TO EFFECT THE ANSWERS OF HOLDING COMPANY,AMALGAMATION,CORPORATE  RESTRUCTURING QUESTIONS OR ONLY THE FORMAT OF BALANCE SHEET AND PROFIT &LOSS ACCOUNT WILL CHANGE IN THESE QUESTIONS.PLEASE REPLY ME