As per Revised Schedule VI, various detailed information needs to be provided in the Notes. What should be done, if any particular note(s) is not applicable for the company, should we mention "Not Applicable or the particular note can be removed altogether. Thanks. CA Bhadada O P
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Revised schedule vi
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The Revised Schedule VI requires all information relating to each item on the face of the Balance Sheet and Statement of Profit and Loss to be cross-referenced to the Notes to Accounts. (see para 6.10 of Guidance Note on the Revised Schedule VI to the Companies Act, 1956)
Thus if a particular information is not applicable/related to the company, then the note relating to this information should also be not mentioned/made in the financial statements. In other words, we should not give a note no. to that information and then write as "N.A."
But information required by any Act, Law, Accounting Standard which is not specifically not required by the revised schedule VI is to be provided in the notes to financial statement. (relavant para para 6.5,6.6,6.7 and 6.12 of Guidance Note on the Revised Schedule VI to the Companies Act, 1956)
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