accounts of subsidiary co
This query is : Resolved
28 September 2010
Dear all,
Section 4 which defines holding co as one which holds stake of more than 50 % . One of our group company - A Pvt. Ltd (private ltd) holds more than 50% stake in main co. (private ltd) - B - Pvt. Ltd
In that case, Annual accounts of subsidiary company has to be incorporated in its holding co.(A Pvt. Ltd) _exception section 213- where central govt approval is accorded.
A Private Ltd does not incorporate annual accounts of B Pvt. Ltd.
My query is that is sec 212 applicable to only 100% subsidiary of public or private ltd co's .
if yes, pls quote section or case law
Section 4 which defines holding co as one which holds stake of more than 50 % . One of our group company - A Pvt. Ltd (private ltd) holds more than 50% stake in main co. (private ltd) - B - Pvt. Ltd
In that case, Annual accounts of subsidiary company has to be incorporated in its holding co.(A Pvt. Ltd) _exception section 213- where central govt approval is accorded.
A Private Ltd does not incorporate annual accounts of B Pvt. Ltd.
My query is that is sec 212 applicable to only 100% subsidiary of public or private ltd co's .
if yes, pls quote section or case law
28 September 2010
Sec 212 is applicable to all Ocmpanies whether public or private , wholly owned subsidiary or otherwise....
Hence, you need to compund the default u/s 212 for non compliance by rectifying the same.
Hence, you need to compund the default u/s 212 for non compliance by rectifying the same.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CLOSING STOCK QUERY
- TDS on rent received on hardship compensation being rent on redevelopment of building
- ITR-Capital Gain
- Gst on travel by air for business purposes
- Query regarding reporting of exempt foreign remuneration in ITR
- Loss of interest in PF transfer from EPFO to Trust
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- Taxation on Old jewellery sold
- NRI INSURANCE ADVISOR
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
