LOAN TO DIRECTOR
This query is : Resolved
08 June 2010
COMPANY HAS GIVEN A LOAN TO DIRECTOR OF Rs.500000/- AS ON 5-3-10 AND DIRECTOR ALSO PAID IT AS ON 28-03-10 THERE IS NO OUTSTANDING BALANCE AS ON 31-03-10 WHETHER AUSITOR IS REQUIRED TO DISCLOSED IT IN THE CARO REPORT.
08 June 2010
yes it is a 301 related transaction and hence the same should be disclosed in clause 4 of the report though the loan was squared up at the year end.
The words of the clause read as "during the year"
The words of the clause read as "during the year"
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