Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Related party transaction

Save Share

This query is : Resolved

imran khan (Querist)

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)

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