Income of foreign subsidiary company

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Prabhakar (Querist)
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26 September 2015 One of the Limited company is having subsidiary company at US. The subsidiary company accounts are audited at US and IT returns filed at US. How to compute the income while filing the Holding company return of income India Please clarify or suggest any Article on this issue

RahulMehta

RahulMehta (Expert)
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27 September 2015 No need to take into account the income of subsy company as both are separate legal entity.

If subsy has declared any dividend during the year, then that needs to be taken into account as income.

Prabhakar

Prabhakar (Querist)
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03 October 2015 Thank you Rahulji