TaxTMI 
TaxTMI 
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
REVISED SCHEDULE _VI
24 Jul 2012 
1 Reply 
1554 Views Asked by
Guest 
Investment classification depends on declared intention at acquisition; use contemporaneous records to determine current or non current status.
Classification as Current or Non-Current Investment depends on the investor's intention at the date of acquisition; contemporaneous evidence such as board minutes should be examined to determine whether holdings are for near term realisation or for long term purposes. The query describes market purchases, investments via a PMS account, interest free intercompany investments and bank fixed deposits by a finance company, but the reply seeks clarification of "PMS A/c" and emphasizes reliance on documented intention. (AI Summary)
Classification as Current or Non-Current Investment depends on the investor's intention at the date of acquisition; contemporaneous evidence such as board minutes should be examined to determine whether holdings are for near term realisation or for long term purposes. The query describes market purchases, investments via a PMS account, interest free intercompany investments and bank fixed deposits by a finance company, but the reply seeks clarification of "PMS A/c" and emphasizes reliance on documented intention. (AI Summary)