Revised schedule VI news

View Solicited on MCA Exposure Draft on XBRL Taxonomy based on Revised Schedule VI

Ministry of Corporate Affairs (MCA) has come out with an Exposure Draft on XBRL taxonomy for Commercial and Industrial (C&I) entities for filing their Balance Sheet and Profit and Loss Account for the financial year 2011-12 based on Revised Schedule VI....

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Posted Under: CA, CS, CMA |

ICAI requests CBDT to review the ITR forms vis-à-vis Revised Schedule VI

The Ministry of Corporate Affairs (MCA) has notified the Schedule VI (Revised) which is applicable in respect of Balance Sheet and Profit and Loss Account prepared for the financial year commencing on or after 1.4.2011. The Revised Schedule VI had changed the nomenclature of certain items, modified the present classification of accounts, ...

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Posted Under: CA, CS, CMA |

Draft Guidance Note on Revised Schedule VI

Guidance Note to the Revised Schedule VI to the Companies Act, 1956 1.        Introduction1.1 Schedule VI to the Companies Act, 1956 (‘the Act’) provides the manner in which every company registered under the Act shall prepare its Balance Sheet, Statement of Profit and Loss and notes thereto. In the light of various economic an...

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Posted Under: CA, CS, CMA |

Exposure Draft of General Purpose Financial Reporting XBRL Taxonomy Based on Revised Schedule VI for Commercial and Industrial Companies

With the new reporting format, the taxonomy also needed to undergo a change. Accordingly, the new taxonomy, based on the Revised Schedule VI requirements, for the Commercial & Industrial (C&I) companies has been developed by ICAI. The new taxonomy is a general purpose taxonomy capable of being used for filing annual financial statements f...

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Posted Under: CA, CS, CMA |

Empanelment form for examiners – Revised and ICAI President Message

would like to inform you all that Schedule VI will be applicable from the year commencing April 1, 2011. Further, I am glad to inform you that till date 31, 093 no. of queries/complaints/grievances have been posted in the “e-Sahaayataa” portal out of which 30,820 no. of queries/complaints/grievances have been resolved & catered to. I...

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Posted Under: CA, CS, CMA |

Revised Schedule VI to the Companies Act, 1956 to be effective from 1 April 2011

Ministry of Corporate Affairs [MCA], Government of India, had on 3 March 2011, hosted on its website, the revised Schedule VI to the Companies Act, 1956 which deals with the Form of Balance sheet, Profit & Loss Account and disclosures to be made therein. The revised Schedule VI has been framed as per the existing non-converged Indian Acco...

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Posted Under: CA, CS, CMA |

Change in applicability date of revised Schedule VI of Companies Act, 1956

As you are aware, the Ministry of Corporate Affairs (MCA) had earlier announced on its website that the revised Schedule VI is applicable from the financial year 2010-11 onwards. On 25 March 2011, the MCA has changed this note on the website to state that the revised Schedule VI will apply from 1 April 2011. […]...

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Posted Under: CA, CS, CMA |

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