Related party transaction
This query is : Resolved
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
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
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.
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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- GST Rate for Catering Services
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- NRI starting business in India
- GST not cancelled by tenant
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
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
