CARO 2020 is applicable to a foreign company.
foreign company” means any company or body corporate incorporated outside India which,—
(a) has a place of business in India whether by itself or through an agent, physically or through electronic mode; and
(b) conducts any business activity in India in any other manner.
whether this definition includes a private limited company which is a wholly owned subsidiary of a foreign company
Otherwise, in this case, CARO will not be applicable to that Private ltd company since it is not a subsidiary company of public company and paid up capital and borrowings less than 1 cr and turnover doesn't exceed 10 cr.
kindly clarify my query?
Menu
CARO applicability - Foreign subsidiary company
Replies (3)
Quick Summary
Definition of Foreign Company, does not include subsidiary of foreign company in india.
Thank you Sir
Any time. Its my pleasure to help the professional feternity.
Recent Topics :
- How Do CA Firms Manage Client Document Collection
- How do CA firms manage pending client documents du
- How to find a good CA
- Rcm on rent paid
- Clarify on GST Application
- Residential status for overseas students visitin
- Capital Gains Tax
- LTCG 112A and business loss
- FAST-DS 2026 applicability: foreign employee share
- NRI Property Sale in India: TDS Rates and Key Comp
Related Topics :
CAclubindia
