REVISED SCHEDULE _VI, Accounting - Auditing

[NATHURAM KADAM]

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

Posts / Replies

[CA GOPALJI AGRAWAL]

One has to see the intention on the date of investment (can see the minutes etc) for ascertaining the nature of investment whether current or non current. What do you mean by PMS A./c?