What are Other Current Liabilities?

Other Current Liabilities
Other current liabilities are required to be sub-classified in the notes into the following categories :
  1. Current maturities of long-term debt
  2. Current maturities of finance lease obligations
  3. Interest accrued but not due on borrowings
  4. Interest accrued and due on borrowings
  5. Income received in advance
  6. Unpaid dividends
  7. Application money received for allotment of securities and due for refund and interest accrued thereon
  8. Unpaid matured deposits and interest accrued thereon
  9. Unpaid matured debentures and interest accrued thereon
  10. Other payables (specifying nature)
It seems that in case of 'interest accrued but not due on borrowings' and 'income received in advance', only the 'current' portion should be classified above and the non current portion should be disclosed under non-current liabilities.
As per the existing Schedule VI, interest accrued and due on borrowings is added to the carrying amount of the related borrowing.
In the case of share application money, the period for which the money has been pending beyond the period for allotment as mentioned in the document inviting application for shares along with the reason for such share application money being pending shall be disclosed.
Other Payables : It includes statutory dues.

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