The Company shall give details of any transaction not recorded from the guides of accounts that's been surrendered or disclosed as revenue in the course of the yr from the tax assessments beneath the Cash flow Tax Act, 1961 (including, research or survey or any other suitable provisions with the Cash flow Tax Act, 1961), Unless of course There is certainly immunity for disclosure below any plan as well as shall state whether or not the Beforehand unrecorded profits and similar assets happen to be correctly recorded within the guides of account over the 12 months.;
For instance, basic vanila redeemable choice shares shall be classified and introduced underneath ‘liabilities’ as ‘borrowings’ or ‘subordinated legal responsibility’ and also the disclosure specifications With this regard applicable to this sort of borrowings shall be relevant mutatis mutandis to redeemable choice shares.
(i) Non-recent investments shall be categorised as trade investments and also other investments and further more categorised as:
(d) the asset is cash or even a cash equal Except if the asset is limited from being exchanged or used to settle a liability for a minimum of twelve months following the reporting time period.
In the event that of presidency Business, Area 129 shall not apply to corporations engaged in defence manufacturing to the extent of application of appropriate Accounting Typical on phase reporting. here Exemption notification dated 05.
two(six) Affiliate Company, in relation to a different company, means a business through which that other enterprise has a big impact, but which isn't a subsidiary firm of the company getting this sort of impact and includes a joint venture company.
) The provisions of this Act relevant towards the preparing, adoption and audit from the economical statements of a shall, mutatis mutandis, utilize for the consolidated economical statements referred to in sub-part (
(iv) Financial loans and advancements owing by directors or other officers of the company or any of these either severally or jointly with some other particular person or amounts owing by firms or personal companies respectively wherein any director can be a spouse or a director or simply a member shall be individually stated.
(iv) time period and level of default as over the balance sheet date in repayment of borrowings and curiosity, shall be specified independently in Just about every situation.
(II) date and volume of fund further Superior or loaned or invested other intermediaries or Top Beneficiaries alongwith full particulars of one other intermediaries’ or best beneficiaries.
ten. Compound monetary devices which include convertible debentures, in which split into equity and legal responsibility factors, as per the requirements in the suitable Indian Accounting Specifications, shall be categorised and introduced under the related heads in ‘Equity’ and ‘Liabilities’.
Provided that the items contained in these kinds of money statements shall be in accordance While using the accounting criteria:
Observe:— Broad heads shall be resolved considering the principle of materiality and presentation of accurate and truthful view of economic statements.
(e) the quantity of even more fascination remaining thanks and payable even during the succeeding yrs, until eventually such date if the interest dues higher than are actually paid towards the compact company, for the objective of disallowance of a deductible expenditure underneath segment 23 of your Micro, Compact and Medium Enterprises Development Act, 2006.