New schedule vi adoption

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GAYATHRI (Querist)
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16 December 2011
When a company having its year ending in Mar 2012 have extended their financial year to 18 months(i.e Sep 2012) as per sec.210(4), Which schedule VI format should they need to follow?

Thanks in advance,

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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16 December 2011 Revised Schedule VI will apply. This is because revised Schedule VI is applicble for Financial Years commencing on 1.4.2011.

The fact that the company has extended its accounting year does not in any way affect the applicability of Revised Schedule VI.

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Guest

Guest (Expert)

16 December 2011 AGREE WITH MR. BHARDWAJ.

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GAYATHRI

GAYATHRI (Querist)
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17 December 2011 Thank you,

Will there be any change if the financial year end was 30th Sep 2011(i.e 1.4.10-30.09.2011). Which format will they have to adopt?

Guest

Guest (Expert)

17 December 2011 Since your financial year is commencing from 01.04.2010 which is well before 01.04.2011, hence revised schedule VI will not be applicable on you.

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GAYATHRI

GAYATHRI (Querist)
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17 December 2011 Thank you mam,

Where can i find a citation supporting this? do provide a link if possible.

Thanks & Regards,

Guest

Guest (Expert)

17 December 2011 Pl visit these these links:

http://www.mca.gov.in/Ministry/pdf/Schedule_VI_28feb2011.pdf

http://www.mca.gov.in/Ministry/pdf/Circular_62-2011_05sept2011.pdf

Give me your email id, i will email circular and notification to you.

Thanks, Neha