Question ID : 44720

Financial statements of non corporate entities

Please let me know that whether it is mandatory to prepare financial statements of non corporate entities in new format from fy 23-24 or from fy 24-25, kindly clarify the interpretation of technical guide (June 22) and Guidance note ( Aug 23) on financial statements of non corporate entities

Answer ID : 85494

It is mandatory from F.Y.2024-25 to prepare financial statement of non-corporate entities in new format.

Answer ID : 85498

The preparation of financial statements of non-corporate entities in the new format is mandatory for financial periods beginning on or after April 1, 2024. This is based on the "Guidance Note on Financial Statements of Non-Corporate Entities"

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