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Query

PREM RANJAN.V.P (Govtservice) (29 Points)

31 May 2017

whether amount not repartiable can be included in balance balances

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3 Replies

Shanker Agarwal (CA in practice) (6 Points)
Replied 31 May 2017

Which balance?

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PREM RANJAN.V.P (Govtservice) (29 Points)
Replied 31 May 2017

under Current Asset

Cash and cash equivalents

Sanjay S (Chartered Accountant) (1375 Points)
Replied 02 June 2017

Classification under Cash and cash equivalents:

Cash and cash equivalents shall be classified as:-

a.		Balances with Banks (of the nature of cash and cash equivalents);
b.		Cheques, drafts on hand;
c.		Cash on hand; and
d.		Balances with Banks (subject to Repatriation Restrictions)

As per Schedule III of Companies Act, 2013, the bank/Cash balance which are subject to repatriation restrictions needs to separately shown under 'Cash & Cash Equivalents'.