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