What are the exemptions to the requirement of Clause 28 of form 3cd? - Professionals - Taxation - TIK Share
0 Likes 331 Views

What are the exemptions to the requirement of Clause 28 of form 3cd?


Rahul Rai

2013-12-22

What are the exemptions to the requirement of Clause 28 of form 3cd? The clause requires the disclosures regarding Quantitative details.

Is it compulsory to disclose the quantitative details?

Vedanta Deshika

2013-12-23

Every company needs to provide the quantitative details without any exemption available in this matter. However, companies falling under Ministry of Defence like say BEL, BHEL, HAL may apply for getting exemption in the interest of the national security.

 

So, if u go through the financials of some of these companies, you will not find segment reporting disclosures as per AS 17. If you get the Tax audit repoprt, you will not find the quantitative details of Rm, fg ,etc.

Reply