In case of a NBFC where it is engaged in bill discounting, I have following queries:
1. Whether it can re discount the said bill further?
2. If yes, then can it rediscount the same with a proprietorship concern wherein the HUF of the director is a Propreitor
3. Whether the above discounting charges paid by Nbfc to HUF will be treated as related party transactions and the same will be disclosed in its financials?
Yes.
CAclubindia
