Schedule vi

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kshitiz

kshitiz (Querist)
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30 April 2008 where will fixed deposits with banks be clubbed under the schedule vi to the companies act,1956?

CA Hemant T Dewani

CA Hemant T Dewani (Expert)
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30 April 2008 if fixed deposits is made it is under invenment is taken

kshitiz

kshitiz (Querist)
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01 May 2008 in schedule vi there is nothing mentioned about the classifiation of fixed deposit.. how can you say that it will be classified under investments?

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CA. Yayati Tyagi

CA. Yayati Tyagi (Expert)
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01 May 2008 Fixed deposit with banks are to be classified under "Current Assets" under heading "Cash and Bank balances". There you put all accounts with banks, F.D. and cash in hand.