Related party disclosure
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 March 2014
Hi All,
An Indian Company is a wholly owned subsidiary of a USA Company and that USA Company is in turn a wholly owned subsidiary of a UK Company.
1. Are the Indian Company and UK Company related parties for the purpose of Companies Act and Income Tax Act?
2. Is the case different if the US company is not a wholly owned subsidiary of the UK Company?
An Indian Company is a wholly owned subsidiary of a USA Company and that USA Company is in turn a wholly owned subsidiary of a UK Company.
1. Are the Indian Company and UK Company related parties for the purpose of Companies Act and Income Tax Act?
2. Is the case different if the US company is not a wholly owned subsidiary of the UK Company?
20 March 2014
1. yes as there is indirect control of uk co in indian co.
2.then how much control does uk have in us and us in india mention that...
2.then how much control does uk have in us and us in india mention that...
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Querist : Anonymous
Querist :
Anonymous
(Querist)
21 March 2014
US company holds 99.99% shares of Indian Company and UK Company holds 50% shares of the US Company.
21 March 2014
then again the ans is yes..............
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