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(Querist)
24 June 2009 In Eform 23AC we have to mention gross value of related party transaction so to calculate that value what will be treatement of the below mention transaction i.e. whether that will be added or deducted:

1. Loan accepted
2. Loan repaid
3. Advance given
4. Repayment recd for advance given.



Thanks & Regards
Vandana
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CS Vivek Hegde

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CS Vivek Hegde (Expert)
24 June 2009 Dear Vandana

Very good query. U can see the refreshner issued by ICSI for more info which i can send if u can provide me ur e mail ID

In calculating GROSS VALUE there is no question of Decucting. We should add all items. If we deduct something it becomes NET VALUE.

you should note one more thing. For 23AC the item should include only B/s items (i.e transactions of capital nature)

in 23ACA u should mention P & L items(i.e of revenue nature.

rgds

Vivek
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CS Vandana Kacholia

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CS Vandana Kacholia (Querist)
24 June 2009 thanks vivek

you can email me that refreshner on vandana.kacholia@gmail.com




Regards
Vandana
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