Rounding rules for company balance sheets clarified; permitted rounding units depend on turnover thresholds and Gazette publication. Alteration to Schedule VI prescribes permissible rounding of figures in the vertical balance sheet form according to turnover bands, replacing the prior Note 3; it authorises specified rounding units (hundreds, thousands, lakhs, millions, crores) and permits decimals, enacted under statutory power and effective on publication in the Official Gazette.
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Rounding rules for company balance sheets clarified; permitted rounding units depend on turnover thresholds and Gazette publication.
Alteration to Schedule VI prescribes permissible rounding of figures in the vertical balance sheet form according to turnover bands, replacing the prior Note 3; it authorises specified rounding units (hundreds, thousands, lakhs, millions, crores) and permits decimals, enacted under statutory power and effective on publication in the Official Gazette.
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