Rounding off of the financial statements as per amendment in schedule III to the Companies act, 2013 Dated March 24, 2021

[Ankita Karnani]

Dear all,

If a company's total income is 95 crores, can it round off to the nearest hundreds or it should be rounded off necessarily to the nearest lakhs or millions??

Kindly advise.

thanks in advance

[shivani jain]

It can be rounded off in nearest Hundreds also.

Only if Total income is Rs. 100Cr or more then in nearest Lakhs (Ref: Schedule III).

Thank You

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