Alterations in Schedule VI under powers conferred by sub-section (1) of section 641 of the Companies Act, 1956.
Government of India
Ministry of Finance and Company Affairs
New Delhi, the 1st August, 2002
G.S.R.545(E). – In exercise of the powers conferred by sub-section (1) of section 641 of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following further alterations in Schedule VI to the said Act, namely :-
1.In the said Schedule, in Part-I, under the heading “B.VERTICAL FORM”, in the Notes at the end, for para 3, the following shall be substituted, namely:-
“3. The figures in the balance sheet may be rounded off as under:-
|Where the turnover of the company in any financial year is:||Round off permissible:|
|(i) less than one hundred crore
|to the nearest hundreds or thousands, or decimals thereof.|
|(ii) one hundred crore rupees or more but less than five hundred crore rupees||to the nearest hundreds, thousands, lakhs or millions, or decimals thereof.|
|(iii) five hundred crore rupees or
|to the nearest hundreds, thousands, lakhs, millions, or crores, or decimals thereof.”|
2.This notification shall come into force on the date of its publication in the Official Gazette.
[ F. No.1/5/2002-CL.V ]