18 October 2013
Dear Sir, I want to know that in ROC E-form 23AC what value should we need to fill.i.e. if a company borrows Rs. 1 lac from its related party and subsequently repays it back.then should we feel the amount as Rs.1 lac or Rs. 2 lacs (Gross).
19 October 2013
Gross transactions under AS 18 are to be disclosed under Related Party Transaction accordingly 2 Lacs are to be shown as Gross Value of Related Party Transaction.
CAclubindia
