Section 40(a)(2)(b)

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    RADHIKA JOSHI New Member

    We purchase goods from a related party. At the end of the year the party is showing a debit balance because we have paid them money in advance. I have the query that in sec40(a)(2)(b) of audit report do we show the the amount of goods purchase from them plus the debit amount as advance to related party or we just write the total purchase from them only. Please reply it is an urgent matter.
    We are a Pvt. ltd. Company.
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