Query on revised schedule vi

CA Sudhir Maheshwari (CA) (270 Points)

18 May 2012  

If company had taken loan from any person in FY 2010 and repaid the same in Feb 2012.Then how the presentation looks like...? Company has shown it in audited FY 2011 in Unsecured loan Head..

Now my question is while making revised Schedule VI, do we need to classify the FY 2011 loan amount as per revised VI and if Yes then will it be treated as current liablity because the same has been paid in Feb 2012.