Consolidation of Accounts
This query is : Resolved
28 May 2011
whether consolidation of Accounts is mandatory under Income tax Act and if Yes then under which section or is there any requirement of LAW.
CA PARAS BAFNA
(Expert)
28 May 2011
It is not mandatory under the Income TAx Act, as the approach to levy tax is based on a person. Every company is a different person.
However for the sake of better understanding you may follow the link-
https://www.caclubindia.com/forum/consolidation-of-accounts-127746.asp
However for the sake of better understanding you may follow the link-
https://www.caclubindia.com/forum/consolidation-of-accounts-127746.asp
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