Sec 372a
This query is : Resolved
07 August 2011
sir.,
i want to ask sec 372A doesn't apply to wholly owned subsidiary ..but sir earliear if a co. is having 90% investment in subsidiary n on 30 march 2011 it makes a investment of another 10% in subsidiary WHICH makes it wholly own subsidiary then whether this 10% investment is taken into consideration on 30 march 2011 for checking the maximum limit under sec 372A or we have to skip this investment
?
i want to ask sec 372A doesn't apply to wholly owned subsidiary ..but sir earliear if a co. is having 90% investment in subsidiary n on 30 march 2011 it makes a investment of another 10% in subsidiary WHICH makes it wholly own subsidiary then whether this 10% investment is taken into consideration on 30 march 2011 for checking the maximum limit under sec 372A or we have to skip this investment
?
09 August 2011
Paid up share capital and/or free reserves should be as per Company's latest available AUDITED BALANCE SHEET hence investment made as on 30th march'11, in my opinion, will not be covered as latest audited balance sheet did not include the same for auditing.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Difference between Date of Payment and Date of Deduction?
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS AND ITR ISSUE
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- LIC maturity claim whether taxable
- FCRA 6 E- Intimation
- Cash balance limit and property purchases limit
- EXPORT COMMERCIAL INVOICE HSN CODE
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
