branch audit

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CA Vijay Ramnani

CA Vijay Ramnani (Querist)
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04 October 2010 when is branch audit to be done in case of corporate assessee?

Ajay Mishra

Ajay Mishra (Expert)
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05 October 2010 Meaning of “Branch Office”

Section 2(9) of the Companies Act, 1956 define the expression “Branch Office” in relation to company means:
(a) Any establishment described as branch by the company;
(b) Any establishment carrying on either the same or substantially the same activity as that carried on by the head office of the company; or
(c) Any establishment engaged in the production, processing or manufacture,
But does not include any establishment specified in any order made by Central Government under section 8.

Vide Circular F.No. 8/16(1)/61-PR, the term “Branch Office” includes any establishment engaged in any production, processing or manufacture. Branch office of a company registered under the Companies Act, 1956 may be located in India or elsewhere.

Appointment of Auditor

Where a company has a branch office, the accounts of that office shall be audited by the company’s auditor appointed u/s 224 or by a person qualified as auditor of the company u/s 226 of the Companies Act.

Regards
CS Ajay Mishra

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