FOREIGN COMPANY SUBSIDIARY
This query is : Resolved
sumit bhartia
(Querist)
16 August 2009
I have one company registered in India.
it is selling software
But the problem is that one director is in USA and from there he is running the company.Actually he has a website.
The sale method is that the party download the software from his website.
sending hard copy is not necessary than.
he is also having one company in USA
Can there be a problem in future in Income tax or sales tax or any other department bcoz of this.
Should the indian company be a susbsidiary of that foreign company.is in mandatory.what are the procedures id mandatory.
Or we should pay Remuneration to the foreign director whene ever he is in india in cash.
Please help.if there is any more solutions.
it is selling software
But the problem is that one director is in USA and from there he is running the company.Actually he has a website.
The sale method is that the party download the software from his website.
sending hard copy is not necessary than.
he is also having one company in USA
Can there be a problem in future in Income tax or sales tax or any other department bcoz of this.
Should the indian company be a susbsidiary of that foreign company.is in mandatory.what are the procedures id mandatory.
Or we should pay Remuneration to the foreign director whene ever he is in india in cash.
Please help.if there is any more solutions.
CA. Amit Daga
(Expert)
16 August 2009
Dear Sumit.
When any company is holding more than 50 % of share or another company or when company is controlling by another company than it will be subsidary company of another company.
Just mere become a director of two companies one company cant be subsidiary of another company
Amit
When any company is holding more than 50 % of share or another company or when company is controlling by another company than it will be subsidary company of another company.
Just mere become a director of two companies one company cant be subsidiary of another company
Amit
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