Foreign branch - residential status
This query is : Resolved
Arvind Kumar
(Querist)
12 August 2011
Dear Experts, please help me in the following query:
If a Indian Co. (A ltd) opens up a branch in a foreign country, what will be the residential status of such branch i.e. whether such branch shall be deemed as a foreign company or ?
Further if some other Indian Co. (B Ltd) enters into transaction directly with such branch of (A ltd) and wants to remit payments, whether form 15 ca/cb shall be required for such payments?
If a Indian Co. (A ltd) opens up a branch in a foreign country, what will be the residential status of such branch i.e. whether such branch shall be deemed as a foreign company or ?
Further if some other Indian Co. (B Ltd) enters into transaction directly with such branch of (A ltd) and wants to remit payments, whether form 15 ca/cb shall be required for such payments?
CA. Krishna K Neeraj
(Expert)
15 August 2011
That branch will not have any identity separate from the Indian Co.(A Ltd.).
Whereas B Ltd another Indian Company enters directly with Foreign Branch of A Ltd, then it should require to obtain 15CA/CB for remittance.
Whereas B Ltd another Indian Company enters directly with Foreign Branch of A Ltd, then it should require to obtain 15CA/CB for remittance.
Arvind Kumar
(Querist)
16 August 2011
Sir, thanks for your opinion. But I still have my query open.
If the branch does not have any separate identity, then it shall obtain the status of a resident(i.e. status of the Indian Co). And form 15 ca/cb are required only for payments to be made to non-residents.
Then why form 15ca/cb should be required?
Please clarify.
If the branch does not have any separate identity, then it shall obtain the status of a resident(i.e. status of the Indian Co). And form 15 ca/cb are required only for payments to be made to non-residents.
Then why form 15ca/cb should be required?
Please clarify.
Dhirajlal Rambhia
(Expert)
16 July 2023
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