branch audit
This query is : Resolved
04 October 2010
when is branch audit to be done in case of corporate assessee?
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
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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