Form 23ac and aca of mca

MCA 1255 views 2 replies

sameer

Article

122 Points Joined May 2011

Doubt!

Sir, While filling the form 23AC and ACA of Companies act, I have two doubts

1.Inter Corporate Deposit (required to be filled) : What is ICD , whether the Investment of one corporate to another corporate is ICD.or loan transaction of one corporate to another corporate amounts to ICD.

2.Related Party ( Gross Amt required to be filled) : What is the meaning of gross amount whether the closing balance of related party as shown in their account should b mentioned or whether any kind of transaction.

Kindly Provide your Value-able comments on this topic?

Replies (2)

nidhigoel89

Company Secretary

596 Points Joined December 2009

Hello,

As per my understanding:

Inter corporate Deposit: would be the Loan given to the Company by other corporates.

Related party (Gross amount): would be an amount the total sum of all the Related party transaction held during the year. The amount would be different in Form 23AC and ACA as per the basis of nature of transaction.

Thanks!

Nidhi

Inter Corporate Deposit (required to be filled)

Read more at: /forum/details.asp?mod_id=261792#.UhG6gJFtjKQ

sameer

Article

122 Points Joined May 2011

if ICD is Loan Transaction then why in form 23AC there is two seperate points viz. "Inter Corporate Deposits" and other is "Inter Corporate Borrowings" how will this transaction be discriminate.

Because on the basis of your conclusion both are same!

Kindly Provide your Value-able comments ?