Revised Schedule VI for Companies | Format

The Central Government, in exercise of the powers under section 641(1) of the Companies Act, 1956 has replaced the existing Schedule VI with the revised Schedule VI on the 28th February, 2011 pertaining to the preparation of Balance Sheet and Profit and Loss Account under the Companies Act, 1956.

Revised Schedule VI FormatThis revised Schedule VI has been framed as per the existing non converged Indian Accounting Standards notified under the Companies (Accounting Standards), Rules, 2006. The Revised Schedule VI shall come into force for the Balance Sheet and Profit and Loss Account to be prepared for the financial year commencing on or after 1.4.2011.

Format of the Revised Schedule VI – Balance Sheet

Part I: Form of Balance Sheet
Name of the Company
Balance Sheet as at 31 March, 20X2
ParticularsNote No.As at 31st March 20X2As at 31st March, 20X1
Rs.Rs.
AEQUITY AND LIABILITIES
1Shareholder’s Fund
(a) Share capital
(b) Reserves and surplus
(c) Money received against share Warrants
2Share application money pending allotment
3Non-current liabilities
(a) Long-term borrowings
(b) Deferred tax liabilities (net)
(c) Other long-term liabilities
(d) Long-term provisions
4Current liabilities
(a) Short-term borrowings
(b) Trade payables
(c) Other current liabilities
(d) Short-term provisions
TOTAL
BASSETS
1Non-current assets
(a) Fixed assets
(i) Tangible assets
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(v) Fixed assets held for sale
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long-term loans and advances
(e) Other non-current assets
2Current assets
(a) Current investments
(b) Inventories
(c) Trade receivables
(d) Cash and cash equivalents
(e) Short-term loans and advances
(f) Other current assets
TOTAL

Format of the Revised Schedule VI – Profit and Loss account

Part II – Form of Statement of Profit And Loss
Name of the Company
Statement of Profit and Loss for the year ended 31 March, 20X2
ParticularsNote No.As at 31st March 20X2As at 31st March, 20X1
Rs.Rs.
ACONTINUING OPERATIONS
1Revenue from operations (gross)
Less: Excise duty
Revenue from operations (net)
2Other income
3Total revenue (1+2)
4Expenses
(a) Cost of materials consumed
(b) Purchases of stock-in-trade
(c) Changes in inventories of finished goods, work-in-progress and stock-in trade
(d) Employee benefits expense
(e) Finance costs
(f) Depreciation and amortisation expense
(g) Other expenses
Total expenses
5Profit / (Loss) before exceptional and extraordinary items and tax (3 – 4)
6Exceptional items
7Profit / (Loss) before extraordinary items and tax (5 + 6)
8Extraordinary items
9Profit / (Loss) before tax (7 + 8)
10Tax expense:
(a) Current tax expense for current year
(b) (Less): MAT credit (where applicable)
(c) Current tax expense relating to prior years
(d) Net current tax expense
(e) Deferred tax
11Profit / (Loss) from continuing operations (9 +10)
BDISCONTINUING OPERATIONS
12.iProfit / (Loss) from discontinuing operations (before tax)
12.iiGain / (Loss) on disposal of assets / settlement of liabilities attributable to the discontinuing operations
12.iiiAdd / (Less): Tax expense of discontinuing operations
(a) on ordinary activities attributable to the discontinuing operations
(b) on gain / (loss) on disposal of assets / settlement of liabilities
13Profit / (Loss) from discontinuing operations (12.i + 12.ii + 12.iii)   
CTOTAL OPERATIONS   
14Profit / (Loss) for the year (11 + 13)   
15Earnings per equity share:
(1) Basic
(2) Diluted

Comments

  1. MOHAMMED JAVEED says

    sir i kindly request you to send me the format of the revised shedule vi as per the companies act 1956

  2. ankit says

    hi sir,please let me know how to treat a profit and loss account fund from operation in balance sheet as per schedule vi
    plzzzz soon

  3. balwant negi says

    Res/Sir,

    Please send the revised schedule VI as per concern my job.

    Thanks & Regards
    Balwant Negi

  4. Shree Kumar Patel says

    please help me how to treat Work in progress to be mentioned in notes to Schedule VI for building developers

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