Other Expenses
Expenditure on each of the following items forming part of 'other expenses' as shown on the face of the Statement, is required to be shown separately in the notes :
- Consumption of stores and spare parts
- Power and fuel
- Rent
- Repairs to buildings
- Repairs to machinery
- Insurance
- Rates and taxes, excluding taxes on income
- Miscellaneous expenses
Apart from the above, items exceeding the higher of one per cent of revenue from operations or INR 1,00,000, net loss on sale of investments, provision for diminution in the value of investments/ other adjustments to carrying amount of investments would need to be disclosed separately. Net loss on account of foreign exchange fluctuations (other than considered as finance cost) and provisions for losses of subsidiary companies would also need to be disclosed.
Payment to Auditors
Details of payments to auditors have to be given in notes as follows :
(a) As auditor, (b) for taxation matters, (c) for company law matters, (d) for management services, (e) for other services, (f) for reimbursement of expenses;
Thus, a separate disclosure of reimbursement of expenses is now required.
