Query in Sch. V - Annual Return Declaration.

This query is : Resolved

Guest

Guest (Querist)

03 March 2010 Dear Experts,

Page 8 of Annual Return – Clause (g) the company did not have an average turnover of Rs. Ten Crores or more during the relevant period;

Query 1

ABC Private Limited has sales turnover of Rs.27 Crores for FYE 31.03.09.

Should we strike the above said Clause (g) in the AR, as the sales turnover is Rs.27 Crores ?

Query 2

What is average turnover ?

Experts’ views are requested.

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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03 March 2010 Next to Clause G - Mention that the turnover of the company was 27 crores which exceeded the limit of 10 crores.

Average turnover means you have to take the average for past 3 years.

Guest

Guest (Querist)

03 March 2010 Thank you Sir.

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