MCA mandates companies to round off figures appearing in Financial Statements

Last updated: 28 September 2022

MCA mandates companies to round off figures appearing in Financial Statements

CLARIFICATION

Amendment to Schedule III to the Companies Act, 2013 vide MCA Notification GSR. 207(E) dated 24th March 2021 mandates companies to round off the figures appearing in the Financial Statements depending upon their total income. However, if the companies provide absolute figures in e-forms ie. AOC-4, the same shall not be treated as incorrect certification by the Professionals.

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