Query 1:- In Clause 23 of 3CB3CD "Particulars of payments made to persons specified under section 40A(2)(b)", in case of purchase from related party which of the following amount is required to report in the 3cb3cd?
a).purchase debited to P& L( gross purchase ie, before deducting the purchase return)
b). Purchase debited to P&L (net purchase ie, after deductiing the purchase return)
c). Actual amount paid to creditors during current year
Query 2:-If answer is b). Then what to do negative figure in purchase (purchase return more than purchase)?
Query 3:- This reporting is applicable on capital expenditure, in case asset purchased from related party?
CAclubindia
