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Which disclosure under Ind AS 24 is required EVEN IF there are no related-party transactions during the reporting period?
ACompensation paid to key management personnel during the year
BProvision for doubtful debts on outstanding related-party balances
CThe name of the parent and, if different, the ultimate controlling party
DBad debts written off during the year in respect of related parties
Answer & Solution
Correct answer: C. The name of the parent and, if different, the ultimate controlling party
Para 13 (Category 1 disclosure) requires disclosure of the parent's name and ultimate controlling party regardless of whether transactions occurred. The other three are Category 2 disclosures triggered only when related-party transactions exist during the period.
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