Revised schedule vi

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Querist : Anonymous

Querist : Anonymous (Querist)

28 June 2012 is it mandatory for all the companies whether big or small to prepare CFS as per the revised schedule vi of the companies act 1956

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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28 June 2012 Yes it is.

The applicability of revised Schedule VI is from Financial year 2011-12, that means for books of account finalised for financial year ending 31-3-2012 the revised Schedule VI is applicable. The Concerned notification is available for download at MCA website
Notificate no.S.O.447(E) dated 28-2-2011

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CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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28 June 2012 CFS is not mandatory for all companies. It is applied as per AS-3 only.

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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28 June 2012 CFS is not applicable to SME. Please check whether the company referred falls under SME which can be known from http://www.mca.gov.in/Ministry/notification/pdf/Notification_GSR_739.pdf