As-18-related party transaction
This query is : Resolved
Ravi Chauhan
(Querist)
25 February 2012
Whether Sitting Fees Paid To The Non-Executive Directors are to be treated as a Related Party Transaction ???
If Yes, Then On What Basis ???
If Yes, Then On What Basis ???
CA-CWA RAVI
(Expert)
25 February 2012
hello ravi
As per the para 3D OF AS18...Key management personnel and there relatives come under the ambit of related party transactions...so as per your query if the non executive director have the authority and responsibility for planning directing and controlling the the activities of the company ( which is commonly non executive director don't have ) any payment made to them including sitting fees would constitute related party transaction.
As per the para 3D OF AS18...Key management personnel and there relatives come under the ambit of related party transactions...so as per your query if the non executive director have the authority and responsibility for planning directing and controlling the the activities of the company ( which is commonly non executive director don't have ) any payment made to them including sitting fees would constitute related party transaction.
Message likes :
3 times
Ravi Chauhan
(Querist)
26 February 2012
Thanks a lot sir !!!
03 April 2012
The expert has correctly answered I agree with him and no extra comment is required.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
