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of <h1>Disclosure Rules for Profit and Loss Accounts Under Schedule VI, Part II: Key Guidelines for Companies.</h1> The circular outlines disclosure requirements for profit and loss accounts under Part II of Schedule VI. Companies with separate industrial licenses must classify items as distinct classes of goods, while trading companies should follow the classification of the Chief Controller of Imports and Exports. If classification isn't feasible, Monopolies and Restrictive Trade Practices Act rules apply. Expenditure for employees with shared amenities need not be precisely apportioned. Expenditure exceeding 1% of total revenue or Rs. 5,000 must be distinctly shown. Imports should be disclosed on a c.i.f. basis, and foreign currency expenditures must be itemized. The value of imported materials consumed and foreign exchange earnings should be disclosed consistently.
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