What are the related party transactions and how to calculate it while filling form 23AC and 23ACA ?
Shridhi Jain
(Company Secretary)
(1678 Points)
Replied 15 November 2011
U shud see the 'notes n policies' attached to balance sheet.
There is mentioned Related party disclosure as per AS 18. (revenue transactions as well as capital transaction of related party)
In form 23AC you shud take into account capital transactions of related party while in Form 23ACA you have to calculate revenue items of related party transactions.
Virendra
(Traniee)
(126 Points)
Replied 15 November 2011
I've filled the gross amount of closing balance of outstanding loan in form 23AC and difference between o/p and c/s balance of interest accrued on o/s loan in 23ACA. Am i correct ?
Virendra
(Traniee)
(126 Points)
Replied 15 November 2011
And could you please tell me why ROC charges additional fee of rs.1000 while filing form 23AC and 23ACA .
Shridhi Jain
(Company Secretary)
(1678 Points)
Replied 15 November 2011
Form 23AC n ACA have to b filed within one month of AGM otherwise two times of the normal filing fee will b charged as penalty.
Delay Additional fee
up to 30 days two times
30-60 days four times
60-90 days six times
more than 90 days nine times
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
