transactions party related
Dear Sir,
Greetings!!
there are two specific provisions which deals with realted party transaction disclosure, these are
section 188 under which you have to give disclosure of transactions which are mentioned in sub section 1 in format AOC-2 which is to be attached to form AOC-4 as mandatory attachment,
As per AS-18 read with schedule III of companies Act 2013
disclosure of related party transactions is madatory, should be under seperate heading in notes to accounts and following disclosures are to be made:
If there have been transactions between related parties, during the existence of a related party relationship, the reporting enterprise should disclose the following:
(i) the name of the transacting related party;
(ii) a description of the relationship between the parties;
(iii) a description of the nature of transactions; 280 AS 18
(iv) volume of the transactions either as an amount or as an appropriate proportion;
(v) any other elements of the related party transactions necessary for an understanding of the financial statements;
(vi) the amounts or appropriate proportions of outstanding items pertaining to related parties at the balance sheet date and provisions for doubtful debts due from such parties at that date; and
(vii) amounts written off or written back in the period in respect of debts due from or to related parties.
hope it helps
Thank you
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Dear Professionals,
Following objection raised by the CRC for the Producer certificate or Khasra/ Khatauni is in regional language than It should be in translated in English & certified by the professional
Pl make the following compliances as it is final opportunity :- 1. The address mentioned in the utility bill is incomplete viz. not having vital details like House no./Flat no./Plot no./Road/Khasra/Khatauni etc. Provide precise location details to enable service of documents at the mentioned address. Attach another documentary proof with complete address along with NOC. In case of rural areas not having exact / precise location in the utility bill, start with C/o (owner of the premises) in the registered office address details. 2.Producer certificate of all subscribers certified by tehsildar/ agriculture officer/ patwari/ SDM/district administrator on their letterhead with Clear Office Name & Address, Tel. No., Email-ID and Signing officer's Name, Designation, Contact No., stamp etc. and/or Khasra/ Khatauni should also be attached. if Producer certificate or Khasra/ Khatauni is in regional language than It should be in translated in English & certified by the professional. Please highlight the names of subscribers in khasra / khatoni if attached.
What should I do?
translated should english certified professional than language certificate khasra khatauni 
Hello
Section 188 of the Companies Act instructs to report related party transaction in the format specified named as AOC-2. Schedule III specifies the details which have to be mentioned about the related party transaction in the balance sheet