how to disclose related party transactions in AOC 4.
PROFIT & LOSS ITEMS
Transactions with related party
sale ₹10,00,000
purchase₹15,00,000
whether I have to disclose 25,00,000
or 5,00,000(Net of sale or purchase) as related party transactions.
BALANCE SHEET ITEMS
same case with the loan taken or repaid and loan given and recover?
whether to show outstanding balances or transactions during the year
how to disclose?
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related party transactions
Replies (1)
In case of PNL items only debit side items need to be disclosed u/s 40(a)(2)(b) and in case of loans and advances both loans & advances taken and given is to be disclosed u/s 269ss & 269t
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