AS-18

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Soumitra Chawathe (Querist)
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22 September 2009 In Form 23AC / ACA, we have to mandatorily write the Gross value of transactions with AS-18 parties. My queries:

1) Who are those parties?

2) What should we exaxtly look in the Balance sheet / P&L A/c to get the AS-18 figure (e.g. directors remuneration, etc). Please give a list of all the probable items appearing in the B/Sheet and P&L A/c

Guest

Guest (Expert)

23 September 2009 Reply to your queries:

(1) Parties are Directors/ Director's Relatives, and Firms/ Companies in which director's are interested.

(2) You should have to check entire years transaction. But If you want to tally then , check the board meetings & Register U/S 301.

Regards,
Ankur Shah