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?
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.
CAclubindia
