AS 18

Director resigns during the year. The pvt ltd co has received a loan from him. And it stays outstanding as at year end. Does it attract AS 18?

Replies (7)

It attracts As-18 relationship at anypoint of time during the year.Disclosure necessary

Thanks for your reply 

any case law or section tat you can quote reg dis

no case law or section  refer AS-18  which is a disclosure AS

So it means a disclosure to be made in Notes with the amount of loan rite?

u are rite

Related party transaction is to be disclosed only when following conditions are satisfied at the time of transaction

(1) Related party relationship

(2) Related party transaction

So if the loan was given before resignation then it needs to be disclosed.

disclosure necessary only if relationship exist on date of receipt of loan , year is irrelevant

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
21 October 2026
CA INTER/ BCOM WITH EXPERIENCE

CA S KUMAR GUPTA & CO

Amritsar

CA Inter

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details
Company
ARTICLESHIP 28 October 2026
Article assistants

Shyam S Gupta and Company

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 07 November 2026
Article Assisstant

DPV & Associates

Chennai

CA Inter

View Details
Company
13 October 2026
Accountant

Zerdi & Co. Chartered Accountants

Pune

B.Com

View Details
Company
02 November 2026
Audit Executive

SRJP & Co LLP

Kochi

CA Inter

View Details
Company
24 October 2026
CA Industrial Trainee

Fytomax Nutrition Private Limited

Aurangabad

CA Inter

View Details
Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details