Schedule III Additional Requirements – Checklist with Referencer

Schedule III Additional Requirements – Checklist & Referencer to checklist May be useful as an Audit Tool for Small & Medium Sized Companies.

Schedule III Additional Requirements – Checklist and Others

SCHEDULE III (NEW REQUIREMENTS W.E.F. 01.04.2021)
[Division I of Schedule III: Financial Statements for a company whose Financial Statements are required to comply
with the Companies (Accounting Standards) Rules, 2006]

SCHEDULE III (ADDITIONAL REQUIREMENTS W.E.F. 01 .04.2021)

[Division I of Schedule III: Financial Statements for a company whose Financial Statements are required to comply with the Companies (Accounting Standards) Rules, 2006]

PART I — BALANCE SHEET
New Requirements Y / N /
N
Disclosure Made Notes
Rounding Off Mandatory required for all companies
or If company is almost inoperative with insignificant / no transactions:
Company has figures in less than hundreds for items appearing in financial statements,
hence it is not practicable to rounding off as those figures may vanish.
Disclosure of shareholding of Promoters (% change during the year) New table to be added for % change during the year
or
There is no change in shareholding of Promoters during the year.
Current Maturities of LT Borrowings If Y, disclosure as
per Sch III
If N / NA then no need of disclosure
or Company has no current maturities of Long Term Borrowings during the year.
Ageing schedule for Trade payables due for payment If Y, disclosure as
per Sch III
If N / NA then no need of disclosure
Property, Plant and Equipment Intangible assets If Y, disclosure as
per Sch III
If N / NA then no need of disclosure
Security Deposits (Other Current Assets) Only change in head from Long-term loans and advances to Other non-current assets, no
other disclosures required.
Ageing schedule for trade receivables outstanding If Y, disclosure as
per Sch III
If N / NA then no need of disclosure
Contingent liabilities and commitments (in respect of borrowings from banks and financial institutions) If Adverse,
disclosure as per
Sch III
If no borrowings from banks and financial institutions, then no need of disclosure
or
Company has used the borrowings from banks and financial institutions for the specific
purpose for which it was taken at the balance sheet date.
Title deeds of Immovable Property not held in name of the Company If Y, disclosure as
per Sch III
If N / NA then no need of disclosure
or
Title deeds of Immovable Property are held in name of the Company as at the balance
sheet date (other than properties where the company is the lessee and the lease
agreements are duly executed in favour of the company, if any).
Revaluation of PP If Y, disclosure as
per Sch III
Only if PPE:
Company has not made any revaluation of Property, Plant and Equipment.
Loans or Advances in the nature of loans are granted to promoters, directors, KMPs and the related parties If Y, disclosure as
per Sch III
If N / NA

Company has not granted any Loans or Advances in the nature of loans to promoters,
directors, KMPs and the related parties (as defined under Companies Act, 2013,) either
severally or jointly with any other person, that are: (a) repayable on demand or (b)
without specifying any terms or period of repayment.

Ageing Schedule and

Completion Schedule for Capital- Work-in Progress (CWIP)

If Y, disclosure as
per Sch III
If N / NA then no need of disclosure
Ageing Schedule and Completion Schedule for Intangible assets under development If Y, disclosure as
per Sch III
If N / NA then no need of disclosure
Details of Benami Property hel If Y, disclosure as
per Sch III
If N / NA

The Company does not have any Benami Property and no proceedings have been initiated
or is pending against the Company for holding any Benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

If N / NA then no need of disclosure
Disclosure requirements in case of borrowings from Banks or FI If Adverse,
disclosure as per
Sch III
or
The Company has been regular in filing quarterly returns or statements of current assets
with banks or financial institutions and those are in agreement with the books of
accounts.
Disclosure, if Wilful Defaulter as per Bank or FI or other lender If Adverse,
disclosure as per
Sch III
If N / NA then no need of disclosure
orThe Company has not been declared a wilful defaulter by any bank or financial institution.
Relationship with Struck off Companies If Y, disclosure as
per Sch III
The Company has no transactions with companies struck off under Sec.248 of the
Companies Act, 2013 or Sec.560 of the Companies Act, 1956.
charges or satisfaction yet to be registered If Y, disclosure as
per Sch III
If N / NA
Company has no borrowings on which charges or satisfaction are required to be
registered with Registrar of Companies as at balance sheet date.
or
Company has no charges or satisfaction yet to be registered with Registrar of Companies
beyond the statutory period as at balance sheet date.
Compliance with number of layers of companies If Adverse,
disclosure as per
Sch III
If N / NA then no need of disclosure
Disclosure of Ratios Mandatory required for all companies
Compliance with approved Scheme(s) of Arrangements If Y, disclosure as
per Sch III
If N / NA then no need of disclosure
Utilisation of Borrowed funds and share premium (ultimate beneficiaries purpose) If Y, disclosure as
per Sch III
If N / NA then no need of disclosure

or

(i) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(a)  directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

(ii) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

(a)  directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

PArt II — Statement of Profit and Loss
New Requirements Y / N /
NA
Disclosure Made Notes
Disclose in revenue from operations

Grants or donations received (relevant in case of section 8 companies only)]

If N / NA then no need of disclosure
Undisclosed Income disclose by way of notes If Y, disclosure as
per Sch III
The Company does not have any such transactions which is not recorded in the books of
accounts that has been surrendered or disclosed as income during the year in the tax
assessments under the Income Tax Act, 1961 (such as, search or survey or any other
relevant provisions of the income Tax Act,1961).
Disclosure of Corporate Social Responsibility (CSR) – if applicable If Y, disclosure as
per Sch III
If N / NA then no need of disclosure
Disclosure of Crypto Currency or Virtual Currency

– if applicable

If Y, disclosure as
per Sch III
If N / NA

The Company has not traded or invested in Crypto currency or Virtual Currency during the
financial year

Trade Payables ageing schedule

Particulars Outstanding for following periods from due date of payment Total
Less than 1
year
1-2 years 2-3 years More than 3 years
(i) MSME
Previous Year
(ii) Others
Previous Year
(iii)  Disputed dues- MSME
Previous Year
(iv)Disputed dues- Others
Previous Year

Trade Receivables ageing schedule

Particulars Outstanding for following periods from due date of payment/transaction Total
Less than 6 month 6 months- 1 year 1-2 years 2-3 years More than 3
years
(i)   Undisputed Trade receivables- considered good
Previous Year
(ii)   Undisputed Trade Receivables- Considered Doubtful
Previous Year
(iii)           Disputed Trade Receivables considered good
Previous Year
(iv)  Disputed Trade Receivables considered doubtful
Previous Year
(v) Unbilled Dues
Previous Year

Financial Ratios

Ratio Numerator Denominator Current Period Previous Period Variance
(%)*
Current Ratio Current Assets Current Liabilities #DIV/0!
Debt-Equity Ratio Total Debt Shareholder’s Equity and CCD #DIV/0!
Debt Service Coverage Ratio Earning available for Debt Services Debt Services #DIV/0!
Trade Receivables Turnover Ratio Net Credit Sales Average Account Receivables #DIV/0!
Trade Payables Turnover Ratio Net Credit Purchases Average Account Payables #DIV/0!
Net Working Capital Turnover Ratio Total Income Average Working Capital #DIV/0!
Net Profit Ratio Profit After Tax Total Income #DIV/0!
Return on Capital employed Earning

Before

Interest and Taxes

Capital Employed #DIV/0!
Return on Equity Net Profit after Taxes and Interest on CCD Average Shareholder’s Equity and CCD #DIV/0!

Loans and Advances

Loan granted which is repayable on demand as at the end of the year.

Type of Borrower Current Period Previous Period
Amount in Rs. in Lakhs % of Total Loa Amount in Rs. in Lakhs % of Total
Loan
Directors
Related Party
Total

Ratios working

Ratios working

Schedule III Additional Requirements – Referencer to Checklist  

PART I — BALANCE SHEET
Rounding Off Depending upon the 1 [Total Income] of the company, the figures appearing in the Financial Statements 2 [shall] be rounded off as given below:—

3 [Total Income] Rounding off
(a) less than one hundred crore rupees To the nearest hundreds, thousands, lakhs or millions, or decimals thereof.
(b) one hundred crore rupees or more To the nearest lakhs, millions or crores, or decimals thereof.
Disclosure of shareholding of Promoters A company shall disclose Shareholding of Promoters* as below:

Shares held by promoters at the end of the year % Change during the year***
S.No. Promoter name No. of Shares** % of total shares**
Total

* Promoter here means promoter as defined in the Companies Act, 2013. ** Details shall be given separately for each class of shares *** percentage change shall be computed with respect to the number at the beginning of the year or if issued during the year for the first time then with respect to the date of issue

Current Maturities of LT Borrowings current maturities of Long term borrowings shall be disclosed separately under the head Short-term borrowings.
Ageing schedule for Trade payables due for payment The following ageing schedule shall be given for Trade payables due for payment:- Trade Payables ageing schedule

(Amount in Rs.)

Particulars Outstanding for following periods from due date of payment#
Less than 1 year 1-2 years 2-3 years More than 3 years Total
MSME Others Disputed dues – MSME Disputed dues – Others

# similar information shall be given where no due date of payment is specified in that case disclosure shall be from the date of the transaction. Unbilled dues shall be disclosed separately;

Property, Plant and Equipment Intangible assets 4 [(iii) A reconciliation of the gross and net carrying amounts of each class of assets at the beginning and end of the reporting period showing additions, disposals, acquisitions through business combinations, amount of change due to revaluation (if change is 10% or more in the aggregate of the net carrying value of each class of Property, Plant and Equipment) and other adjustments and the related depreciation and impairment losses/reversals shall be disclosed separately.]
Security Deposits Security Deposits head changed from Long-term loans and advances to Other non-current assets

Ageing
schedule for
trade
receivables
outstanding
5[(i) For trade receivables outstanding, following ageing schedule shall be given:
Trade Receivables ageing schedule
(Amount in Rs.)
Particulars
Outstanding for following periods from due date of
payment#
Less than 6
months
6 months -1
year
1-2
years
2-3
years
More than 3
years
Total
Undisputed Trade receivables – considered good
Undisputed Trade Receivables – considered doubtful
Disputed Trade Receivables considered good
Disputed Trade Receivables considered doubtful
# similar information shall be given where no due date of payment is specified, in that case disclosure shall be from the date of the transaction. Unbilled dues shall be disclosed separately.]
Contingent
liabilities and
commitment
s
Where the company has not used the borrowings from banks and financial institutions for the specific purpose for which it was taken at the balance sheet date, the company shall disclose the details of where they have been used under the head Contingent liabilities and commitments (to the extent not provided for).
Title deeds of
Immovable
Property not
held in name
of the
Company
Title deeds of Immovable Property not held in name of the Company
The company shall provide the details of all the immovable property (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee) whose title deeds are not held in the name of the company in format given below and where such immovable property is jointly held with others, details are required to be given to the extent of the company’s share.
Relevant
line item in
the
Balance
sheet
Description of item of property
Gross
carrying
value
Title
deeds
held in
the
name of
Whether title deed
holder is a promoter,
director or relative# of
promoter*/ director or
employee of promoter/
director
Property
held since
which date
Reason for not
being held in
the name of
the company**
PPE
Land
Building
**also indicate if in dispute
Investment property
PPE retired from active use and held for disposal
others
Land
Building
Land
Building
#Relative here means relative as defined in the Companies Act, 2013. *Promoter here means promoter as defined in the Companies Act, 2013.

Revaluation of
PPE
Where the Company has revalued its Property, Plant and Equipment, the company shall disclose as to whether the revaluation is based on the valuation by a registered valuer as defined under rule 2 of the Companies (Registered Valuers and Valuation) Rules, 2017.
Loans or
Advances in
the nature of loans are granted to promoters, directors,
KMPs and the
related parties
Following disclosures shall be made where Loans or Advances in the nature of loans are granted to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person, that are:

(a) repayable on demand or

(b)  without specifying any terms or period of repayment

Type of Borrower Amount of loan or advance in the nature of loan outstanding Percentage to the total Loans and Advances in the nature of loans
Promoters
Directors
KMPs
Related Parties
Ageing
Schedule and
Completion
Schedule for
Capital-Work-
in Progress
(CWIP)
Capital-Work-in Progress (CWIP)

(a) For Capital-work-in progress, following ageing schedule shall be given: CWIP aging schedule
(Amount in Rs.)

CWIP Amount in CWIP for a period of Total*
Less than 1 year 1-2 years 2-3 years More than 3
years
Projects in progress

Project temporarily suspended

*Total shall tally with CWIP amount in the balance sheet.

(b) For capital-work-in progress, whose completion is overdue or has exceeded its cost compared to its original plan, following CWIP completion schedule shall be given**:

(Amount in Rs.)

CWIP To be completed in
Less than1 year 1-2 years 2-3 years More than 3 years
Project 1

Project 2”

**Details of projects where activity has been suspended shall be given separately.
Ageing
Schedule and
Completion
Schedule forIntangible
assets under
development
Intangible assets under development:

(a) For Intangible assets under development, following ageing schedule shall be given:

Intangible assets under development aging schedule

(Amount in Rs.)

Intangible assets under
development
Amount in CWIP for a period of Total*
Less than 1 year 1-2 years 2-3 years More than 3 years
Projects in progress

Projects temporarily suspended

*Total shall tally with the amount of Intangible assets under development in the balance sheet.

(b) For Intangible assets under development, whose completion is overdue or has exceeded its cost compared to its original plan, following Intangible assets under development completion schedule shall be given**:

(Amount in Rs.)

Intangible assets under
development
To be completed in
Less than 1 year 1-2 years 2-3 years More than 3 years
Project 1

Project 2

**Details of projects where activity has been suspended shall be given separately.
Details of
Benami
Property held
Details of Benami Property held

Where any proceedings have been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder, the company shall disclose the following:-

(a)Details of such property, including year of acquisition,

(b)  Amount thereof,

(c)  Details of Beneficiaries,

(d) If property is in the books, then reference to the item in the Balance Sheet,

(e) If property is not in the books, then the fact shall be stated with reasons,

(f) Where there are proceedings against the company under this law as an abetter of the transaction
or as the transferor then the details shall be provided,

(g) Nature of proceedings, status of same and company’s view on same.

Disclosure
requirements
in case of
borrowings
from Banks or
FI
Where the Company has borrowings from banks or financial institutions on the basis of security of current assets, it shall disclose the following:-

(a)  whether quarterly returns or statements of current assets filed by the Company with banks or financial institutions are in agreement with the books of accounts.

(b)  if not, summary of reconciliation and reasons of material discrepancies, if any to be adequately disclosed.

Disclosure, if
Wilful
Defaulter as
per Bank or FI
or other
lender
Wilful Defaulter*

Where a company is a declared wilful defaulter by any bank or financial Institution or other lender, following details shall be given:

(a)  Date of declaration as wilful defaulter,

(b)  Details of defaults (amount and nature of defaults),

* “wilful defaulter” here means a person or an issuer who or which is categorized as a wilful defaulter by any bank or financial institution (as defined under the Act) or consortium thereof, in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.

Relationship
with Struck off
Companies
Relationship with Struck off Companies

Where the company has any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956, the Company shall disclose the following detai s:-

Name of struck off Company Nature of transactions with struck- off
Company
Balance
outstanding
Relationship with the Struck
off company, if any, to be
disclosed
Investments in securities
Receivables
Payables
Shares held by stuck off company
Other    outstanding    balances    (to   be
specified)

charges or
satisfaction yet
to be
registered
Registration of charges or satisfaction with Registrar of Companies

Where any charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period, details and reasons thereof shall be disclosed.

Compliance with number of layers of companies Compliance with number of layers of companies

Where the company has not complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017, the name and CIN of the companies beyond the specified layers and the relationship/extent of holding of the company in such downstream companies shall be disclosed.

Disclosure of
Ratios
Following Ratios to be disclosed:-
(a)   Current Ratio,

(b)   Debt-Equity Ratio,

(c)  Debt Service Coverage Ratio,

(d)   Return on Equity Ratio,

(e)  Inventory turnover ratio,

(f)    Trade Receivables turnover ratio,

(g)  Trade payables turnover

ratio,

(h)  Net capital turnover ratio,

(i)   Net profit ratio,

(j)    Return on Capital employed,

(k) Return on investment.

The company shall explain the items included in numerator and denominator for computing the above ratios. Further explanation shall be provided for any change in the ratio by more than 25% as compared to the preceding year.
Compliance
with approved
Scheme(s) of
Arrangements
Compliance with approved Scheme(s) of Arrangements

Where any Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013, the Company shall disclose that the effect of such Scheme of Arrangements have been accounted for in the books of account of the Company ‘in accordance with the Scheme’ and ‘in accordance with accounting standards’ and deviation in this regard shall be explained.

Utilisation of
Borrowed
funds and
share premium
Utilisation of Borrowed funds and share premium:

(A) Where company has advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall

(i) directly or indirectly lend or invest in other persons or entities identified  in any   manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or

(ii)  provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries;
the company shall disclose the following: –

(I)  date and amount of fund advanced or loaned or invested in Intermediaries with complete details
of each Intermediary.

(II)   date and amount of fund further advanced or loaned or invested by such Intermediaries to other
intermediaries or Ultimate Beneficiaries alongwith complete details of the ultimate beneficiaries.

(III) date and amount of guarantee, security or the like provided to or on behalf of the Ultimate
Beneficiaries

(IV)   declaration that relevant provisions of the Foreign Exchange Management Act, 1999 (42 of 1999) and Companies Act has been complied with for such transactions and the transactions are not violative of the Prevention of Money-Laundering act, 2002 (15 of 2003).

(B) Where a company has received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shall

(i)  directly or indirectly lend or invest in other persons or entities identified  in any   manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries, the company
shall disclose the following: –

(I)   date and amount of fund received from Funding parties with complete details of each Funding
party.

(II)   date and amount of fund further advanced or loaned or invested other intermediaries or Ultimate Beneficiaries alongwith complete details of the other intermediaries or ultimate beneficiaries.

(III)   date and amount of guarantee, security or the like provided to or on behalf of the Ultimate
Beneficiaries(IV)   declaration that relevant provisions of the Foreign Exchange Management Act, 1999 (42 of 1999) and Companies Act has been complied with for such transactions and the transactions are not violative of the Prevention of Money-Laundering act, 2002 (15 of 2003).]
PART II — STATEMENT OF PROFIT AND LOSS
Disclose in
revenue from
operations
Grants or donations received (relevant in case of section 8 companies only)]
Undisclosed
Incomedisclose by way of notes
(under additional information regarding aggregate expenditure and income) Undisclosed income

The Company shall give details of any transaction not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961), unless there is immunity for disclosure under any scheme and also shall state whether the previously unrecorded income and related assets have been properly recorded in the books of account during the year.

Disclosure of
Corporate
Social
Responsibility
(CSR) – if
applicable
Corporate Social Responsibility (CSR)

Where the company covered under section 135 of the companies act, the following shall be disclosed with regard to CSR activities:-

(a)   amount required to be spent by the company during the year,

(b)   amount of expenditure incurred,

(c)   shortfall at the end of the year,

(d)   total of previous years shortfall,

(e)   reason for shortfall,

(f)  nature of CSR activities,

(g)   details of related party transactions, e.g., contribution to a trust controlled by the company in relation to CSR expenditure as per relevant Accounting Standard,

(h) where a provision is made with respect to a liability incurred by entering into a contractual obligation, the movements in the provision during the year should be shown separately.

Disclosure of
Crypto
Currency or
Virtual
Currency– if applicable
Details of Crypto Currency or Virtual Currency

Where the Company has traded or invested in Crypto currency or Virtual Currency during the financial year, the following shall be disclosed:-

(a)   profit or loss on transactions involving Crypto currency or Virtual Currency

(b)   amount of currency held as at the reporting date,

(c) deposits or advances from any person for the purpose of trading or investing in Crypto Currency/ virtual currency.]

PART I —BALANCE SHEET

Name of the Company……………………..

Balance Sheet as at………………………..

(Rupees in………… )

Particulars Note No. Figures as at the end of
current reporting
period
Figures as at the end of
the previous reporting
period
1 2 3 4
I.     EQUITY AND LIABILITIES

(1) Shareholders’ funds

(a)   Share capital

(b)   Reserves and surplus

(c)    Money received against share warrants

(2) Share application money pending allotment

(3) Non-current liabilities

(a)   Long-term borrowings

(b)   Deferred tax liabilities (Net)

(c)   Other Long term liabilities

(d)   Long-term provisions

(4) Current liabilities

(a)   Short-term borrowings

[(b) Trade payables:-

(A)  total outstanding dues of micro enterprises and small

enterprises; and

(B)   total outstanding dues of creditors other than micro

enterprises and small enterprises.] 6

(c)    Other current liabilities

(d)   Short-term provisions

TOTAL
II.   ASSETS

(1) Non-current assets

(a)   7[Property, Plant and Equipment 8[and Intangible assets] ]

(i)        9[Property, Plant and Equipment]

(ii)   Intangible assets

(iii) Capital work-in-progress

(iv)  Intangible assets under development

(b)   Non-current investments

(c)    Deferred tax assets (net)

(d)   Long-term loans and advances

(e)   Other non-current assets

(2)   Current assets

(a)   Current investments

(b)   Inventories

(c)   Trade receivables

(d)   Cash and cash equivalents

(e)   Short-term loans and advances

(f)    Other current assets

TOTAL

See accompanying notes to the Financial Statements.

PART II — STATEMENT OF PROFIT AND LOSS

Name of the Company………………..

Profit and loss statement for the year ended…………………..

(Rupees in………. )

Particulars Note No. Figures as at the end of current reporting period Figures as at the end of the previous reporting period
1 2 3 4
I. Revenue from operations Xxx xxx
II. Other income Xxx xxx
III. Total 10[Income] (I + II) Xxx xxx
IV. Expenses:

Cost of materials consumed Purchases of Stock-in-Trade

Changes in inventories of finished goods                                                 Xxx                                        xxx

work-in-progress and                                                                               Xxx                                        xxx

Stock-in-Trade                                                                                        Xxx                                        xxx

Employee benefits expense                                                                      Xxx                                        xxx
Finance costs

Depreciation and amortisation expense

Other expenses

Total expenses                                                                                        Xxx                                        xxx

Particulars Note No. Figures as at the end of current reporting period Figures as at the end of the previous reporting period
1 2 3 4
V. Profit before exceptional and extraordinary items and tax (III – IV) Xxx xxx
VI. Exceptional items Xxx xxx
VII. Profit before extraordinary items and tax (V – VI) Xxx xxx
VIII Extraordinary items Xxx xxx
IX. Profit before tax (VII- VIII) Xxx xxx
X. Tax expense:
(1)  Current tax

(2)  Deferred tax

Xxx Xxx xxx xxx
XI. Profit (Loss) for the period from continuing operations (VII-VIII) Xxx xxx
XII. Profit/(loss) from discontinuing operations Xxx xxx
XIII. Tax expense of discontinuing operations Xxx xxx
XIV. Profit/(loss) from Discontinuing operations (after tax) (XII-XIII) xxx xxx
XV. Profit (Loss) for the period (XI + XIV) xxx xxx
XVI. Earnings per equity share:
(1)  Basic

(2)  Diluted

xxx xxx xxx xxx

See accompanying notes to the financial statements.

1  Subs., w.e.f. 01.04.2021, for the word “turnover”, vide GSR 207(E), dt. 24.03.2021

2   Subs., w.e.f. 01.04.2021, for the word “may”, vide GSR 207(E), dt. 24.03.2021.

3  Subs., w.e.f. 01.04.2021, for the word “Turnover”, vide GSR 207(E), dt. 24.03.2021

4 Subs., w.e.f. 01.04.2021, vide GSR 207(E), dt. 24.03.2021. Formerly item (iii) read:

“(iii) A reconciliation of the gross and net carrying amounts of each class of assets at the beginning and end of the reporting period showing additions, disposals, acquisitions through business combinations and other adjustments and the related depreciation and impairment losses/reversals shall be disclosed separately.”

5 Subs., w.e.f. 01.04.2021, item (i), vide GSR 207(E), dt. 24.03.2021. Formerly item (i) read: “(i) Aggregate amount of Trade Receivables outstanding for a period exceeding six months from the date they are due for payment should be separately stated.”

6   Subs. w.e.f. 07.09.2015, for “(b) Trade payables”, vide G.S.R 679(E), dt. 04.09.2015.

7    Subs., w.e.f. 11.10.2018, for “Fixed assets”, vide GSR 1022(E), dt. 11.10.2018.

8   Ins., w.e.f. 01.04.2021, vide GSR 207(E), dt. 24.03.2021

9   Subs., w.e.f. 01.04.2021, for “Tangible Assets”, vide GSR 207(E), dt. 24.03.2021

10   Subs., w.e.f. 01.04.2021, for “Revenue”, vide GSR 207(E), dt. 24.03.2021

 

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Author Bio

Qualification: CA in Practice
Company: S M C A & Co
Location: Kolkata, West Bengal, India
Member Since: 23 Jun 2022 | Total Posts: 8
My self Sanjay Agarwal, B.Sc., FCA, FCS, CPA(USA) is interested in more friends, networking, delegation of work, work in a systematic manner, believe in myself, optimistic and a good leader. Academically update, wants to remain helpful. Believe more in nature, strong believer of Yoga, Pranayama. View Full Profile

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