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Revised schedule vi

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 August 2012 For a company to whom AS-18 related party disclosure is not applicable, then whether in revised schedule VI it need to show dues from related parties seperately
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Nachiket Vasantgadkar

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Nachiket Vasantgadkar (Expert)
13 August 2012 As per the Companies (Accounting Standards) Rules, 2006 (as amended), certain exemptions are available to SCM company. But there is no exemption for AS-18.

What is the reason for non applicability of disclosure? No transactions? In this case you have to disclose the related party in notes to accounts revised Sch VI and disclose dues (payable / receivable / loans & advances) from related parties
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Querist : Anonymous

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Querist : Anonymous (Querist)
13 August 2012 the company being level III company, AS-18 is not applicable.
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Querist : Anonymous

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Querist : Anonymous (Querist)
13 August 2012 so even a private ltd company will have to disclose loans receivable from related parties seperately ?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
27 July 2023 "Sorry, I am not a featured member."

For featured members contact....

https://www.caclubindia.com/catalogue/featured.asp
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