Day: January 1, 2022

(1) For the purposes of Parts I and II of this Schedule, unless the context otherwise requires :  the expression ‘provision’ shall, subject to sub-clause (2) of this clause, mean any amount written off or retained by way of providing Read More …

It is already observed that section 211 requires that profit and loss account of a company should give a true and fair view of the profit or loss of the company for the financial year and should comply with the Read More …

Part I, Schedule VI to the Companies Act, 1956, prescribes the form of balance sheet and the requirements relating thereto. It should be noted that in addition to the requirements of the body of the Form which sets out instructions Read More …

Section 211 provides that every balance sheet of a company shall give a true and fair view of the state of affairs of the company as at the end of the financial year and shall, subject to the provisions of Read More …

A company may distribute part of its profits during the two annual general meetings. That means, a company may declare dividends before the close of the accounting year and finalisation of accounts. Regulation 86 of Table ‘A’ of Schedule I Read More …

Verification of Dividends In PE-II study material on Accounting, the various conditions subject to which profits are earned by a company can be distributed as a dividend have been discussed. Therefore, only then procedure for the verification of payment of Read More …