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Related party transaction

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(Querist)
20 September 2016 Are incorporation fees paid by directors considered as realted party transaction? Do quote any section for better reference!!
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Pratik Shah

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Pratik Shah (Expert)
20 September 2016 No it can not be considered as related party transaction under Section 188 of Companies Act, 2103. Such expenses are pre-incorporation expenses. Hence, it shall be written off in 5 years.

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