HI Experts,
Kindly let me know when to use the revised schedule VI format for BS and PL. Should we use it for BS/PL for financia year after 1.4.2012 and use old version for the BS/PL for financia year before 1.4.2012.
In RTP, some of the answers are in old format and some are in new. Hence this doubt
| Originally posted by : Mohit Lakhani | ||
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HI Experts, Kindly let me know when to use the revised schedule VI format for BS and PL. Should we use it for BS/PL for In RTP, some of the answers are in old format and some are in new. Hence this doubt |
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Date of enforcement of New Schedule VI is 01.04.2011. (i.e. FY 2011-12 onwards)
But for CA exams it has been made applicable from Nov 2012 attempt onwards.
| Originally posted by : |)eep @ k Gupt/\ | ||
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Originally posted by : Mohit Lakhani HI Experts, Kindly let me know when to use the revised schedule VI format for BS and PL. Should we use it for BS/PL for financia year after 1.4.2012 and use old version for the BS/PL for financia year before 1.4.2012. In RTP, some of the answers are in old format and some are in new. Hence this doubt Date of enforcement of New Schedule VI is 01.04.2011. (i.e. FY 2011-12 onwards) But for CA exams it has been made applicable from Nov 2012 attempt onwards. |
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So BS and PL shud be prepared in the schedule VI format for all questions which are after FY 2011-12???
From Nov 2012 attempt onwards Revised Schedule VI is applicable. Earlier it was not applicable for exam purpose. So, before this Nov 2012 attempt even if a question came for FY 2011-12, we had to do in Old Schedule VI because it was not applicable for exam purpose though was made applicable for companies practically.
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In exam it will be mentioned, like prepare as per Revised Schedule VI.
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But i think you are getting confused with the dates. In exam even if balance sheet is of before FY 2011-12 and you are being asked to prepare as per Revised Schedule VI. Do it and mentioned a note that it is applicable from FY 2011-12 onwards. I hope this is clear to you now. If still, any confusion, then feel free to ask.
hii Mohit
there is no provision of dates you do your Questions in Revised Format of schedule VI. Because it is compulsary for nov 2012 onwards to follow Revised Schedule VI
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