Related party transaction

This query is : Resolved

imran khan (Querist)
Follow

06 December 2015 Hi

I have three querries regarding related party disclosure under AS 18

1. The investment balances in subsidiaries, need to be shown as related party balaces as the same is disclose under investment schdules.

2. Advances paid to related party is required to be disclose as transaction, however when those advaces are adjusted against bills or service tax , such adjustment also constitute related party transaction?

3. Guarantee given or taken from related party is a related party disclosure?.. as the same is covered in borrowing schdule

CA Vivekanand Pote

CA Vivekanand Pote (Expert)
Follow

07 December 2015 1.Investment insubsidiaries - disclose in RPT
2.Advances paid to related party - disclose in RPT as advances

Advances adjusted aginst serives - Disclose as Services Provides by related party in RPT

3.Guaranttes need not be disclosed in RPT as per AS18.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

office docs

Jagadeesh GR

Suman Lata Saraswat

suresh kotte

Thanwar Chhatwani

Subscribe Now

Related party transaction

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

Senior Executive

GST CONSULTANT

Manager- Finance and Compliance

CA Final

Accountant