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Revised schedule vi

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23 August 2012 Dear Experts ,
There is one bank account which has credit balance , pls tell me where should i classify the same in revised schedule vi.
I will be very grateful if you help me to solve this problem..

23 August 2012 It may be Bank OD or CC....
You can write under the head secured loan in Liability side...

23 August 2012 Under the Head Current Assets


24 August 2012 @Sanyam Sir.. How....???? Plz explain ...

24 August 2012 Thank you for kind reply , but here in this case this is not an OD account instead it is a current account which has crdedit balance , can it be disclosed as unsecured loan under short term borrowing.? pls give me a reply..

25 August 2012 Since This is Current Account, You Show It Under Bank Account Only By Giving Negative Figure in Bracket.
No Issue in That.

Regards,
CA Ayush Agrawal





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