REVISED SCHEDULE _VI

[Guest]

As per companies Act Revised_Schedule_VI :

Asset :

(1) Non-Current Assets : Non-Current Investments

(2) Current Assets : Current Investments

My query is the company  purchase share 1000 Qty of Reliance Ind. Ltd from market than its come in which group Non-Current Investments  or Current Investments.   Second is company make investment in PMS a/c. last 2 years & company make investment in companies with interest
free and company make fixed deposit with Bank.   Company business is  Finance &  loan & advance and income  is interest on loan & FD & LTCG & STCG on Share.

Thanks & Regards

AI Summary

Understanding Investment Classification Under Revised Schedule VI of the Companies Act: Current vs. Non-Current Investments A user inquired about classifying investments under the Revised Schedule VI of the Companies Act, specifically whether purchasing 1000 shares of a company should be categorized as non-current or current investments. The user also mentioned investments in a Portfolio Management Service (PMS) account, interest-free company investments, and fixed deposits. The company's business involves finance, loans, and income from interest and capital gains. A Chartered Accountant responded, suggesting that the classification depends on the investment's intended purpose at the time of purchase, with a need to review company minutes for clarification.