“This revised Schedule VI is applicable from Financial Year 2010-11 and it is mandatory for all Companies and this is nothing to do with Converged IND AS and this revised Schedule VI is as per existing Non Converged ASs”.
The notification was in this fashion.
But now the MCA has removed all such wordings. May be we need to wait till March 22, 2011 when the Finance bill and Companies (Amendment) Bill 2011 is put up to the houses for approval.
Please send your comments on this.
This will apply to all the companies uniformly for the financial statements to be prepared for the financial year 2010-11 and onwards.
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Schedule VI Has Been Changed
I have already mentioned, there is no specific notification for the applicability as of today status. Please visit mca.gov.in
Yesterday i.e.on 17-Mar-2011, MCA notified that Revised Schedule VI applicable for Financial year 2010-11
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