Rpt
This query is : Resolved
04 November 2014
defination of related party in As and in companies Act 2013 is different. Disclosure of Rpt in Notes to account should be done as per As or as per companies Act 2013
Amol S Joglekar
(Expert)
04 November 2014
In case of Companies Accounts, Companies Act over ride AS. The prudent practice suggests that report the related party transactions as per Companies Act with an additional paragraph, if any, on the transaction covered as per AS.
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