Tax audit
This query is : Resolved
08 July 2013
Whether directors remuneration shown as related payment transactions in tax audit report?
08 July 2013
Since key management personnel are related parties under AS 18, remuneration paid to key management personnel is a related party transaction requiring disclosures under AS 18.
Further, in case non executive directors on the Board of Directors are not related parties, remuneration paid to them is not considered a related party transaction.
Further, in case non executive directors on the Board of Directors are not related parties, remuneration paid to them is not considered a related party transaction.
08 July 2013
In this regard, Accounting Standards Interpretation (ASI) 23 on 'Remuneration paid to key management personnel whether a related party transaction (Re. AS 18)' issued by ICAI may be seen from link given below--
http://220.227.161.86/335asi_accstand23.pdf
http://220.227.161.86/335asi_accstand23.pdf
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TWO FIRM NAME IN ONE GST NUMBER
- Section 54 f disallowed will be taxed at what rate
- ITR -1 Filing
- Transportation of Petrol, Diesel by GTA and Other than GTA
- Form 16 Issues
- SEA GOING ALLOWANCE
- Transfer of rectification rights to ao
- Which ITR application
- Trust 10AB form required for old asst. years?
- TDS whether applicable or not in case of Flat purchase
- Igst utilisation query
- Section 12A(1)AC
- Interest will be paid
- CHANGE IN PARTICULARS OF DIRECTOR
- Non- payment of GST on supply of services- reg
- Accumulated surplus exceeding 15%
- Different GST Number MEESHO
- Fees amount transfer procedure for two doctors
- Notice u/s 148 of IT Act
- Credit note for cycle round
Trending Online Classes
CAclubindia
