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Querist : Anonymous

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Querist : Anonymous (Querist)
22 June 2015 We have a Wholly Owned Foreign Subsidiary. There is only one transaction of Sales in the Subsidiary which is made to the Holding Company. Should it be treated as Integral or Non Integral Foreign Operations ? At what exchange rate the Share Capital be converted to prepare Subsidiary's Financial Statements in INR ?

Request everyone to reply at the earliest

Thanks in advance.
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Vaibhavi

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Vaibhavi (Expert)
22 June 2015 Yes, it is Integral Foreign Operation.
Share capital be converted into INR at the rate on the Balance Sheet date i.e. 31st March of Financial Year.
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