Related Party Transactions
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 September 2010
The company pays the professional fees monthly to one of the Director's firm and the amount is more than Rs.200000/-. Whether this is included in Accounting Standard and the same is included in the tax Audit report?
15 September 2010
Yes it will be reported if the director holds more than 20% in the firm.
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