SCHEDULE VI

(See section 211)

GENERAL INSTURCTIONS FOR PREPARATION OF BALANCE SHEET

AND STATEMENT OF PROFIT AND LOSS OF A COMPANY IN ADDITION
TO THE NOTES INCORPORATED ABOVE THE HEADING OF BALANCE
SHEET UNDER

GENERAL INSTRUCTIONS

1. Where compliance with the requirements of the Act including Accounting

Standards as applicable to the companies require any change in treatment or
disclosure including addition, amendment, substitution or deletion in the
head/sub-head or any changes interse, in the financial statements or statements
forming part thereof, the same shall be made and the requirements of the
Schedule VI shall stand modified accordingly.

2. The disclosure requirements specified in Part I and Part II of this Schedule are in
addition to and not in substitution of the disclosure requirements specified in the
Accounting Standards prescribed under the Companies Act, 1956. Additional
disclosures specified in the Accounting Standards shall be made in the notes to
accounts or by way of additional statement unless required to be disclosed on
the face of the Financial Statements. Similarly, all other disclosures as required
by the Companies Act shall be made in the notes to accounts in addition to the
requirements set out in this Schedule.

3. Notes to accounts shall contain information in addition to that presented in the

Financial Statements and shall provide where required (a) narrative descriptions
or disaggregations of items recognized in those statements and (b) information
about items that do not qualify for recognition in those statements.

Each item on the face of the Balance Sheet and Statement of Profit and Loss
shall be cross-referenced to any related information in the notes to accounts. In
preparing the Financial Statements including the notes to accounts, a balance
shall be maintained between providing excessive detail that may not assist users
of financial statements and not providing important information as a result of too
much aggregation.

4. Depending upon the turnover of the company, the figures appearing in the
Financial Statements may be rounded off as below:

Turnover Rounding off

(i) less than one hundred crore To the nearest hundreds, thousands,
rupees lakhs or millions, or decimals thereof.
 (ii) one hundred crore rupees or To the nearest, lakhs, millions or crores,
more or decimals thereof.

Once a unit of measurement is used, it should be used uniformly in the Financial

Statements.

5. Except in the case of the first Financial Statements laid before the Company (after its
incorporation) the corresponding amounts (comparatives) for the immediately
preceding reporting period for all items shown in the Financial Statements including
notes shall also be given.

6. For the purpose of this Schedule, the terms used herein shall be as per the
applicable Accounting Standards.

Notes

This part of Schedule sets out the minimum requirements for disclosure on the face of
the Balance Sheet, and the Statement of Profit and Loss (hereinafter referred to as
“Financial Statements” for the purpose of this Schedule) and Notes. Line items, sub-line
items and sub-totals shall be presented as an addition or substitution on the face of the
Financial Statements when such presentation is relevant to an understanding of the
company’s financial position or performance or to cater to industry/sector-specific
disclosure requirements or when required for compliance with the amendments to the
Companies Act or under the Accounting Standards.

PART I – Form of BALANCE SHEET

Name of the Company…………………….

Balance Sheet as at ………………………
(Rupees in…………)
Particulars Note No. Figures as at Figures as at
the end of the end of
current the previous
reporting reporting
period period
1 2 3 4
I. EQUITY AND LIABILITIES

(1) Shareholders’ funds

(a) Share capital

(b) Reserves and surplus
(c) Money received against share
warrants

(2) Share application money pending

allotment

(3) Non-current liabilities

(a) Long-term borrowings
(b) Deferred tax liabilities (Net)
(c) Other Long term liabilities
(d) Long-term provisions

(4) Current liabilities

(a) Short-term borrowings
(b) Trade payables
(c) Other current liabilities
(d) Short-term provisions
TOTAL
II. ASSETS
Non-current assets
(1) (a) Fixed assets
(i) Tangible assets
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under
development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long-term loans and advances
(e) Other non-current assets
(2)
Current assets
(a) Current investments
(b) Inventories
(c) Trade receivables
(d) Cash and cash equivalents
(e) Short-term loans and advances
(f) Other current assets
TOTAL
See accompanying notes to the financial statements
Notes

GENERAL INSTRUCTIONS FOR PREPARATION OF BALANCE SHEET

1. An asset shall be classified as current when it satisfies any of the

following criteria:

(a) it is expected to be realized in, or is intended for sale or consumption in, the
company’s normal operating cycle;
(b) it is held primarily for the purpose of being traded;
(c) it is expected to be realized within twelve months after the reporting date; or
(d) it is cash or cash equivalent unless it is restricted from being exchanged or
used to settle a liability for at least twelve months after the reporting date.

All other assets shall be classified as non-current.

2. An operating cycle is the time between the acquisition of assets for

processing and their realization in cash or cash equivalents. Where the normal
operating cycle cannot be identified, it is assumed to have a duration of 12
months.

3. A liability shall be classified as current when it satisfies any of the

following criteria:

(a) it is expected to be settled in the company’s normal operating cycle;

(b) it is held primarily for the purpose of being traded;
(c) it is due to be settled within twelve months after the reporting date; or
(d) the company does not have an unconditional right to defer settlement of the
liability for at least twelve months after the reporting date. Terms of a liability
that could, at the option of the counterparty, result in its settlement by the
issue of equity instruments do not affect its classification.

All other liabilities shall be classified as non-current.

4. A receivable shall be classified as a ‘trade receivable’ if it is in respect of

the amount due on account of goods sold or services rendered in the normal
course of business.

5. A payable shall be classified as a ‘trade payable’ if it is in respect of the

amount due on account of goods purchased or services received in the normal
course of business.

6. A company shall disclose the following in the notes to accounts:

A. Share Capital
for each class of share capital (different classes of preference shares to be
treated separately):
 (a) the number and amount of shares authorized;
(b) the number of shares issued, subscribed and fully paid, and
subscribed but not fully paid;
(c) par value per share;
(d) a reconciliation of the number of shares outstanding at the
beginning and at the end of the reporting period;
(e) the rights, preferences and restrictions attaching to each class of
shares including restrictions on the distribution of dividends and the
repayment of capital;
(f) shares in respect of each class in the company held by its holding
company or its ultimate holding company including shares held by
or by subsidiaries or associates of the holding company or the
ultimate holding company in aggregate;
(g) shares in the company held by each shareholder holding more than
5 percent shares specifying the number of shares held;
(h) shares reserved for issue under options and contracts/commitments
for the sale of shares/disinvestment, including the terms and
amounts;
(i) For the period of five years immediately preceding the date as at
which the Balance Sheet is prepared:

 Aggregate number and class of shares allotted as fully paid up

pursuant to contract(s) without payment being received in cash.
 Aggregate number and class of shares allotted as fully paid up by
way of bonus shares.
 Aggregate number and class of shares bought back.

(j) Terms of any securities convertible into equity/preference shares

issued along with the earliest date of conversion in descending
order starting from the farthest such date.

(k) Calls unpaid (showing aggregate value of calls unpaid by directors

and officers)

(l) Forfeited shares (amount originally paid up)

B. Reserves and Surplus

(i) Reserves and Surplus shall be classified as:

(a) Capital Reserves ;
(b) Capital Redemption Reserve;
(c) Securities Premium Reserve;
(d) Debenture Redemption Reserve;
(e) Revaluation Reserve;
(f) Share Options Outstanding Account;
(g) Other Reserves – (specify the nature and purpose of each
reserve and the amount in respect thereof);
 (h) Surplus i.e. balance in Statement of Profit & Loss
disclosing allocations and appropriations such as dividend,
bonus shares and transfer to/from reserves etc.

(Additions and deductions since last balance sheet to be shown

under each of the specified heads)

(ii) A reserve specifically represented by earmarked investments shall

be termed as a ‘fund’.

(iii) Debit balance of statement of profit and loss shall be shown as a

negative figure under the head ‘Surplus’. Similarly, the balance of
‘Reserves and Surplus’, after adjusting negative balance of
surplus, if any, shall be shown under the head ‘Reserves and
Surplus’ even if the resulting figure is in the negative.

C. Long-Term Borrowings

(i) Long-term borrowings shall be classified as:

(a) Bonds/debentures.
(b) Term loans
 from banks.
 from other parties.
(c) Deferred payment liabilities.
(d) Deposits.
(e) Loans and advances from related parties.
(f) Long term maturities of finance lease obligations
(g) Other loans and advances (specify nature).

(ii) Borrowings shall further be sub-classified as secured and unsecured.

Nature of security shall be specified separately in each case.

(iii) Where loans have been guaranteed by directors or others, the

aggregate amount of such loans under each head shall be disclosed.

(iv) Bonds/debentures (along with the rate of interest and particulars of

redemption or conversion, as the case may be) shall be stated in
descending order of maturity or conversion, starting from farthest
redemption or conversion date, as the case may be. Where
bonds/debentures are redeemable by installments, the date of
maturity for this purpose must be reckoned as the date on which
the first installment becomes due.

(v) Particulars of any redeemed bonds/ debentures which the company

has power to reissue shall be disclosed.

(vi) Terms of repayment of term loans and other loans shall be stated.
 (vii) Period and amount of continuing default as on the balance sheet
date in repayment of loans and interest, shall be specified
separately in each case.

D. Other Long Term Liabilities

Other Long term Liabilities shall be classified as:
(a) Trade payables
(b) Others

E. Long-term provisions

The amounts shall be classified as:

(a) Provision for employee benefits.

(b) Others (specify nature).

F. Short-term borrowings

(i) Short-term borrowings shall be classified as:

(a) Loans repayable on demand

 from banks.
 from other parties.
(b) Loans and advances from related parties.
(c) Deposits.
(d) Other loans and advances (specify nature).
(ii) Borrowings shall further be sub-classified as secured and unsecured. Nature of
security shall be specified separately in each case.

(iii) Where loans have been guaranteed by directors or others, the aggregate
amount of such loans under each head shall be disclosed.

(iv) Period and amount of default as on the balance sheet date in

repayment of loans and interest, shall be specified separately in
each case.

G. Other current liabilities

The amounts shall be classified as:

(a) Current maturities of long-term debt;

(b) Current maturities of finance lease obligations;
(c) Interest accrued but not due on borrowings;
(d) Interest accrued and due on borrowings;
(e) Income received in advance;
(f) Unpaid dividends
(g) Application money received for allotment of securities and due for
refund and interest accrued thereon. Share application money
includes advances towards allotment of share capital. The terms
and conditions including the number of shares proposed to be
issued, the amount of premium ,if any, and the period before
which shares shall be allotted shall be disclosed. It shall also be
disclosed whether the company has sufficient authorized capital to
cover the share capital amount resulting from allotment of shares
out of such share application money. Further, the period for which
the share application money has been pending beyond the period
for allotment as mentioned in the document inviting application
for shares along with the reason for such share application money
being pending shall be disclosed. Share application money not
exceeding the issued capital and to the extent not refundable shall
be shown under the head Equity and share application money to
the extent refundable i.e., the amount in excess of subscription or
in case the requirements of minimum subscription are not met,
shall be separately shown under ‘Óther current liabilities’
(h) Unpaid matured deposits and interest accrued thereon
(i) Unpaid matured debentures and interest accrued thereon
(j) Other payables (specify nature);

H. Short-term provisions
The amounts shall be classified as:
(a) Provision for employee benefits.
(b) Others (specify nature).

I. Tangible assets

(i) Classification shall be given as:

(a) Land.
(b) Buildings.
(c) Plant and Equipment.
(d) Furniture and Fixtures.
(e) Vehicles.
(f) Office equipment.
(g) Others (specify nature).

(ii) Assets under lease shall be separately specified under each class
of asset.

(iii) A reconciliation of the gross and net carrying amounts of each

class of assets at the beginning and end of the reporting period
showing additions, disposals, acquisitions through business
combinations and other adjustments and the related depreciation
and impairment losses/reversals shall be disclosed separately.

(iv) Where sums have been written off on a reduction of capital or

revaluation of assets or where sums have been added on
revaluation of assets, every balance sheet subsequent to date of
such write-off, or addition shall show the reduced or increased
figures as applicable and shall by way of a note also show the
amount of the reduction or increase as applicable together with
the date thereof for the first five years subsequent to the date of
such reduction or increase.

J. Intangible assets

(i) Classification shall be given as:

(a) Goodwill.
 (b) Brands /trademarks.
(c) Computer software.
(d) Mastheads and publishing titles.
(e) Mining rights.
(f) Copyrights, and patents and other intellectual property
rights, services and operating rights.
(g) Recipes, formulae, models, designs and prototypes.
(h) Licenses and franchise.
(i) Others (specify nature).

(ii) A reconciliation of the gross and net carrying amounts of each

class of assets at the beginning and end of the reporting period
showing additions, disposals, acquisitions through business
combinations and other adjustments and the related amortization
and impairment losses/reversals shall be disclosed separately.

(iii) Where sums have been written off on a reduction of capital or

revaluation of assets or where sums have been added on
revaluation of assets, every balance sheet subsequent to date of
such write-off, or addition shall show the reduced or increased
figures as applicable and shall by way of a note also show the
amount of the reduction or increase as applicable together with
the date thereof for the first five years subsequent to the date of
such reduction or increase.

K. Non-current investments

(i) Non-current investments shall be classified as trade investments

and other investments and further classified as:

(a) Investment property;

(b) Investments in Equity Instruments;
(c) Investments in preference shares
(d) Investments in Government or trust securities;
(e) Investments in debentures or bonds;
(f) Investments in Mutual Funds;
(g) Investments in partnership firms
 (h) Other non-current investments (specify nature)

Under each classification, details shall be given of names of the bodies

corporate (indicating separately whether such bodies are (i)
subsidiaries, (ii) associates, (iii) joint ventures, or (iv) controlled
special purpose entities) in whom investments have been made
and the nature and extent of the investment so made in each
such body corporate (showing separately investments which are
partly-paid). In regard to investments in the capital of partnership
firms, the names of the firms (with the names of all their partners,
total capital and the shares of each partner) shall be given.

(ii) Investments carried at other than at cost should be separately stated

specifying the basis for valuation thereof.

(iii) The following shall also be disclosed:

(a) Aggregate amount of quoted investments and market value thereof;

(b) Aggregate amount of unquoted investments;
(c) Aggregate provision for diminution in value of investments

L. Long-term loans and advances

(i) Long-term loans and advances shall be classified as:

(a) Capital Advances;

(b) Security Deposits;
(c) Loans and advances to related parties (giving details
thereof);
(d) Other loans and advances (specify nature).

(ii) The above shall also be separately sub-classified as:

(a) Secured, considered good;

 (b) Unsecured, considered good;
(c) Doubtful.

(iii) Allowance for bad and doubtful loans and advances shall be
disclosed under the relevant heads separately.

(iv) Loans and advances due by directors or other officers of the

company or any of them either severally or jointly with any other
persons or amounts due by firms or private companies
respectively in which any director is a partner or a director or a
member should be separately stated.

M. Other non-current assets

Other non-current assets shall be classified as:

(i) Long Term Trade Receivables (including trade receivables on deferred credit
terms);

(ii) Others (specify nature)

(iii) Long term Trade Receivables, shall be sub-classified as:

(i) (a) Secured, considered good;
(b)Unsecured considered good;
(c)Doubtful

(ii) Allowance for bad and doubtful debts shall be disclosed under
the relevant heads separately.

(iii) Debts due by directors or other officers of the company or any

of them either severally or jointly with any other person or debts
due by firms or private companies respectively in which any
director is a partner or a director or a member should be
separately stated.
 N. Current Investments

(i) Current investments shall be classified as:

(a) Investments in Equity Instruments;

(b) Investment in Preference Shares
(c) Investments in government or trust securities;
(d) Investments in debentures or bonds;
(e) Investments in Mutual Funds;
(f) Investments in partnership firms
(g) Other investments (specify nature).

Under each classification, details shall be given of names of the bodies corporate
(indicating separately whether such bodies are (i) subsidiaries, (ii)
associates, (iii) joint ventures, or (iv) controlled special purpose
entities) in whom investments have been made and the nature
and extent of the investment so made in each such body
corporate (showing separately investments which are partly-paid).
In regard to investments in the capital of partnership firms, the
names of the firms (with the names of all their partners, total
capital and the shares of each partner) shall be given.

(ii) The following shall also be disclosed:

(a) The basis of valuation of individual investments

(b) Aggregate amount of quoted investments and market value thereof;
(c) Aggregate amount of unquoted investments;
(d) Aggregate provision made for diminution in value of investments.
O. Inventories

(i) Inventories shall be classified as:

 (a) Raw materials;
(b) Work-in-progress;
(c) Finished goods;
(d) Stock-in-trade (in respect of goods acquired for trading);
(e) Stores and spares;
(f) Loose tools;
(g) Others (specify nature).

(ii) Goods-in-transit shall be disclosed under the relevant sub-head of

inventories.

(iii) Mode of valuation shall be stated.

P. Trade Receivables

(i) Aggregate amount of Trade Receivables outstanding for a period

exceeding six months from the date they are due for payment
should be separately stated.

(ii) Trade receivables shall be sub-classified as:

(a) Secured, considered good;

(b) Unsecured considered good;
(c) Doubtful.

(iii) Allowance for bad and doubtful debts shall be disclosed under the
relevant heads separately.
 (iv) Debts due by directors or other officers of the company or any of
them either severally or jointly with any other person or debts due
by firms or private companies respectively in which any director is
a partner or a director or a member should be separately stated.

Q. Cash and cash equivalents

(i) Cash and cash equivalents shall be classified as:

(a) Balances with banks;
(b) Cheques, drafts on hand;
(c) Cash on hand;
(d) Others (specify nature).

(ii) Earmarked balances with banks (for example, for unpaid

dividend) shall be separately stated.

(iii) Balances with banks to the extent held as margin money or

security against the borrowings, guarantees, other commitments
shall be disclosed separately.

(iv) Repatriation restrictions, if any, in respect of cash and bank

balances shall be separately stated.

(v) Bank deposits with more than 12 months maturity shall be

disclosed separately.

R. Short-term loans and advances

(i) Short-term loans and advances shall be classified as:

(a) Loans and advances to related parties (giving details thereof);

(b) Others (specify nature).
 (ii) The above shall also be sub-classified as:

(a) Secured, considered good;

(b) Unsecured, considered good;
(c) Doubtful.

(iii) Allowance for bad and doubtful loans and advances shall be
disclosed under the relevant heads separately.

(iv) Loans and advances due by directors or other officers of the

company or any of them either severally or jointly with any other
person or amounts due by firms or private companies
respectively in which any director is a partner or a director or a
member shall be separately stated.

S. Other current assets (specify nature).

This is an all-inclusive heading, which incorporates current assets that do

not fit into any other asset categories.

T. Contingent liabilities and commitments

(to the extent not provided for)
(i) Contingent liabilities shall be classified as:

(a) Claims against the company not acknowledged as debt;

(b) Guarantees;
(c) Other money for which the company is contingently liable

(ii) Commitments shall be classified as:

(a) Estimated amount of contracts remaining to be executed on capital account and
not provided for;

(b) Uncalled liability on shares and other investments partly paid

(c) Other commitments (specify nature).

U. The amount of dividends proposed to be distributed to equity and

preference shareholders for the period and the related amount per share
shall be disclosed separately. Arrears of fixed cumulative dividends on
preference shares shall also be disclosed separately.

V. Where in respect of an issue of securities made for a specific purpose, the

whole or part of the amount has not been used for the specific purpose
at the balance sheet date, there shall be indicated by way of note how
such unutilized amounts have been used or invested.

W. If, in the opinion of the Board, any of the assets other than fixed assets and
non-current investments do not have a value on realization in the
ordinary course of business at least equal to the amount at which they
are stated, the fact that the Board is of that opinion, shall be stated.
PART II – Form of STATEMENT OF PROFIT AND LOSS

Name of the Company…………………….

Profit and loss statement for the year ended ………………………

(Rupees in…………)
Particulars Note Figures Figures
No. for the for the
current previous
reporting reporting
period period
I. Revenue from operations xxx xxx

II. Other income xxx xxx

III. Total Revenue (I + II) xxx xxx

IV. Expenses:
Cost of materials consumed xxx xxx
Purchases of Stock-in-Trade xxx xxx
Changes in inventories of finished goods xxx xxx
work-in-progress and Stock-in-Trade

Employee benefits expense

Finance costs
Depreciation and amortization expense
Other expenses

Total expenses xxx xxx

V. Profit before exceptional and xxx xxx

extraordinary items and tax
(III-IV)

VI. Exceptional items xxx xxx

VII. Profit before extraordinary items and xxx xxx

tax (V - VI)

VIII. Extraordinary Items xxx xxx

IX. Profit before tax (VII- VIII) xxx xxx

X Tax expense:
(1) Current tax xxx xxx
(2) Deferred tax xxx xxx
 XI Profit (Loss) for the period from xxx Xxx
continuing operations (VII-VIII)

XII Profit/(loss) from discontinuing xxx Xxx

operations

XIII Tax expense of discontinuing xxx Xxx

operations

XIV Profit/(loss) from Discontinuing xxx Xxx

operations (after tax) (XII-XIII)

XV Profit (Loss) for the period (XI + XIV) xxx xxx

XVI Earnings per equity share:

(1) Basic xxx xxx
(2) Diluted xxx xxx
See accompanying notes to the financial statements
 GENERAL INSTRUCTIONS FOR PREPARATION OF STATEMENT OF PROFIT
AND LOSS

1. The provisions of this Part shall apply to the income and expenditure account
referred to in sub-section (2) of Section 210 of the Act, in like manner as they
apply to a statement of profit and loss.

2. (A) In respect of a company other than a finance company revenue from

operations shall disclose separately in the notes revenue from
(a) sale of products;
(b) sale of services;
(c) other operating revenues;
Less:
(d) Excise duty.

(B) In respect of a finance company, revenue from operations shall include

revenue from
(a) Interest; and
(b) Other financial services

Revenue under each of the above heads shall be disclosed separately

by way of notes to accounts to the extent applicable.

3. Finance Costs
Finance costs shall be classified as:
(a) Interest expense;
(b) Other borrowing costs;
(c) Applicable net gain/loss on foreign currency transactions and
translation.

4. Other income
 Other income shall be classified as:
(a) Interest Income (in case of a company other than a finance
company);
(b) Dividend Income;
(c) Net gain/loss on sale of investments
(d) Other non-operating income (net of expenses directly attributable
to such income).

5. Additional Information
A Company shall disclose by way of notes additional information regarding
aggregate expenditure and income on the following items:-

(i) (a)Employee Benefits Expense [showing separately (i) salaries and

wages, (ii) contribution to provident and other funds, (iii) expense on
Employee Stock Option Scheme (ESOP) and Employee Stock Purchase Plan
(ESPP), (iv) staff welfare expenses].
(b)Depreciation and amortization expense;
(c)Any item of income or expenditure which exceeds one per cent of the
revenue from operations or Rs.1,00,000, whichever is higher;
(d) Interest Income;
(e) Interest Expense;
(f) Dividend Income;
(g) Net gain/ loss on sale of investments;
(h) Adjustments to the carrying amount of investments;
(i)Net gain or loss on foreign currency transaction and translation (other than
considered as finance cost);
(j)Payments to the auditor as (a0 auditor,(b0 for taxation matters, (c) for
company law matters, (d) for management services, (e) for other services, (f) for
reimbursement of expenses;
(k) Details of items of exceptional and extraordinary nature;
(l) Prior period items;
(ii) (a) In the case of manufacturing companies,-
(1) Raw materials under broad heads.
(2) goods purchased under broad heads.
(b)In the case of trading companies, purchases in respect of goods
traded in by the company under broad heads.
(c)In the case of companies rendering or supplying services, gross
income derived form services rendered or supplied under broad heads.
(d)In the case of a company, which falls under more than one of the
categories mentioned in (a), (b) and (c) above, it shall be sufficient
compliance with the requirements herein if purchases, sales and consumption of
raw material and the gross income from services rendered is shown under broad
heads.
(e)In the case of other companies, gross income derived under broad
heads.
(iii) In the case of all concerns having works in progress, works-in-
progress under broad heads.
(iv) (a) The aggregate, if material, of any amounts set aside or proposed
to be set aside, to reserve, but not including provisions made to meet any
specific liability, contingency or commitment known to exist at the date as to
which the balance-sheet is made up.
(b) The aggregate, if material, of any amounts withdrawn from such
reserves.
(v) (a) The aggregate, if material, of the amounts set aside to provisions
made for meeting specific liabilities, contingencies or commitments.
(b) The aggregate, if material, of the amounts withdrawn from such
provisions, as no longer required.
(vi) Expenditure incurred on each of the following items, separately for
each item:-
(a) Consumption of stores and spare parts.
(b) Power and fuel.
(c) Rent.
(d) Repairs to buildings.
(e) Repairs to machinery.
(g) Insurance .
(h) Rates and taxes, excluding, taxes on income.
(i) Miscellaneous expenses,
 (vii) (a) Dividends from subsidiary companies.

(b) Provisions for losses of subsidiary companies.

(Viii) The profit and loss account shall also contain by way of a note the
following information, namely:-

a) Value of imports calculated on C.I.F basis by the company during the financial
year in respect of –
I. Raw materials;
II. Components and spare parts;
III. Capital goods;

b) Expenditure in foreign currency during the financial year on account of royalty,

know-how, professional and consultation fees, interest, and other matters;
c) Total value if all imported raw materials, spare parts and components consumed
during the financial year and the total value of all indigenous raw materials,
spare parts and components similarly consumed and the percentage of each to
the total consumption;
d) The amount remitted during the year in foreign currencies on account of
dividends with a specific mention of the total number of non-resident
shareholders, the total number of shares held by them on which the dividends
were due and the year to which the dividends related;
e) Earnings in foreign exchange classified under the following heads, namely:-

I. Export of goods calculated on F.O.B. basis;

II. Royalty, know-how ,professional and consultation fees;
III. Interest and dividend;
IV. Other income, indicating the nature thereof

Note:-Broad heads shall be decided taking into account the concept of

materiality and presentation of true and fair view of financial
statements,”.