04 October 2012
Dear sir,Iam a CA FINAL STUDENDT.I prepared balance sheet format for sec 25 co, and Educational Institute(Society) in Revised sch VI format. Is it correct or not? is any special format is there?In which format Educational Institute(Non company)should present its financial statements?
04 October 2012
Government vide Notification No. F.N. 2/6/2008 – C.L-V dated 30 th March 2011 made the revised Schedule VI applicable to all companies for the financial year commencing from 01 st April 2011. The requirements of the Revised Schedule VI however, do not apply to companies as referred to in the proviso to Section 211 (1) and Section 211 (2) of the Act, i.e., any insurance or banking company, or any company engaged in the generation or supply of electricity or to any other class of company for which a form of Balance Sheet and Profit and Loss account has been specified in or under any other Act governing such class of company. So For Education Institute Revised Schedule is Only Applicable.
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