- Section: Schedule III of the Companies Act, 2013
- Purpose: To provide information about cash inflows and outflows during a specific period.
- Applicability: All companies registered under the Companies Act, 2013 except for companies engaged in insurance or banking sectors.
- Timeline: Cash flow statement should be prepared and presented along with the balance sheet and profit and loss account at the end of each financial year.
- Exemption: Companies engaged in insurance or banking sectors are exempted from preparing a cash flow statement.
- Penalty: Non-compliance may result in a penalty of up to Rs. 5,000 per day of default or imprisonment for up to 1 year or both.
- Due Date: Cash flow statement should be submitted within 30 days from the date of the annual general meeting (AGM) or the due date of AGM, whichever is earlier.
- Forms: There is no specific form for preparing a cash flow statement. However, it should be prepared as per the format prescribed in Schedule III of the Companies Act, 2013.
- Reporting Authority: Board of Directors of the company is responsible for preparing and presenting the cash flow statement to the shareholders along with the balance sheet and profit and loss account.
Made With Sitelium