CA Final · Financial Reporting · Ind AS 24 Related Party Disclosures
Ind AS 24 as notified in India includes, in its list of examples of related party transactions, an item added compared with IAS 24. Which example was added?
The added example is management contracts including for deputation of employees. Ind AS 24 inserts it at paragraph 21 in its list of related party transaction examples, which is a difference from IAS 24.
- AManagement contracts including for deputation of employeesCorrect
- BPurchases of property from a bank
- CDividends paid to retail shareholders
- DPayment of income tax to the government
Explanation
The comparison with IAS 24 notes that paragraph 21 of Ind AS 24 adds example (k), management contracts including for deputation of employees. The other items are not the added example.
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