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Revised schedule vi which topics to be affected

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Tarun Kumar Aggarwal

30 Points Posted on 16 July 2012

HI,

my query is regarding the chapters which will be affected by amendment of Schedule VI for May 2012 IPCC. like do we have to make B/S as in Schedule VI for only chapters related to companies like Amalgamation,Final A/c,Issue of Securities,Internal Reconstruction like we used to do in when schedule VI was not applicable ? or we have to make B/s acc to Sch VI always

Help..urgent..pls

Thanks in Advance.

Replies (1)

N.Naveena Maheswara Rao

Assistant manager for accounts

635 Points Posted on 17 July 2012

As per notification no S.O. 447(E), dated 28-2-2011 issued by MCA, Revised Schedule VI shall be applicable to all Companies registered under the Companies Act (excluding banking, insurance and electricity companies). But as there is no format specified in Electricity Act or Rules, Electricity Companies also may follow Revised Schedule VI. Chapters effected in IPCC are Amalgamation, Reconstruction, Financial Statements of Companies, Buy Back, Redemption of debentures, Financial Statements of Electricity Companies and Profit or Loss Prior to Incorporation. Please refer latest study material published by ICAI in ICAI website. Revised schedule VI is applicable for Nov 2012 exams.