applicability accounting standards
This query is : Resolved
17 July 2009
An Indian private ltd company which satisfies first four conditions of sec 2(f) of Companies (Accounting standard rules) 2006 to qualify as a smc. But it is a subsidiary of a foreign company which has the turnover of more than 50 crores during the immediately preceeding accounting year.
In that case will the Indian pvt ltd company be smc or non smc? Thank you in advance.
An Indian private ltd company which satisfies first four conditions of sec 2(f) of Companies (Accounting standard rules) 2006 to qualify as a smc. But it is a subsidiary of a foreign company which has the turnover of more than 50 crores during the immediately preceeding accounting year.
In that case will the Indian pvt ltd company be smc or non smc? Thank you in advance.
18 July 2009
Now the question is whether Companies (accounting standard) rules 2006 applicable to a foreign company to make it non smc and therefore its subsidiary as non smc??
Thanks
Thanks
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Issuing of delivery challan by seller of goods
- EPF ECR NEW RULES Sep 17th 2026
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Taxation of crypto futures in India Fy 2026- 2027
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
