Hello
Can anyone please let me know if financial statements can be made in millions instead of Rupees. Is ROC approval or intimation required for the same?
Thank you
4 Replies
Manmohan ACA, CS
(Chartered Accountant )
(14243 Points)
Replied 30 April 2009
NO, only appropriate disclosure is required
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 30 April 2009
Hi Sangeet
If you read Schedule VI with Section 211 it says that the financial statement should bein Rupees and Forms 23Ac and ACA fild with ROC also said that amount to be denominate in rupees.
I sugges that financial statement shold be made in rupees instead of denominating in millions.
Regards
Ajay
Sangeet Hunjan
(Company Secretary)
(92 Points)
Replied 30 April 2009
Thanks Ajay.
However, Note No. 3 to Schedule VI states that if turnover of a Company in a financial year is equal or more than one hundred crore, financials can be rounded off to hundreds, thousands, millions, etc. Hence they can be prepared in millions
So I just wanted to check if we need to intimate ROC or anything.
Regards
Sangeet
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