Schedule III of Companies Act

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7 Points Posted on 05 May 2023
While preparing Company Balance Sheet whether it is compulsory to mention every item (Nil item also) as per schedule III
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On 05 May 2023 at 17:45 Report
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This discussion clarifies that all items, including nil ones, must be explicitly mentioned in a company's balance sheet as per Schedule III of the Companies Act. While some public company reports may omit nil items, the Act mandates their inclusion. Specific notes and annexures are required for items that were previously present but are now nil.

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Profession
28271 Points Posted on 06 May 2023
Yes it is as per Act. You hv to mention each and every item irrespective whether it is zero or figures.
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On 06 May 2023 at 08:13
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7 Points Posted on 10 May 2023
But I have found in many public companies report nil items are not mentioned
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On 10 May 2023 at 13:43
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Professional
1979 Points Posted on 12 June 2023
If there is a balance on particular head in PFY and Become nil this year ,that to be shown as notes and annexure ,else not.
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On 12 June 2023 at 12:03

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