Section 129 of CA 2013 : Section 129: Financial Statement
CA 2013
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Explanation using Example
Imagine XYZ Pvt. Ltd. is a company that has just concluded its financial year and is preparing its financial statements. According to Section 129 of The Companies Act, 2013, the company must ensure that these financial statements present a true and fair view of its financial situation and comply with the accounting standards prescribed under section 133.
As XYZ Pvt. Ltd. is not an insurance, banking, or electricity company, it must follow the general form and contents for financial statements as provided in Schedule III of the Act. However, if XYZ Pvt. Ltd. had been any of these types of companies, it could have omitted certain dis...
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