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)
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 :
- SUPPLEMENTARY AGREEMENT FOR ADDING A PARTER IN TN
- Part availmement of ITC in case of rejection of su
- Due date for itr 5 no audit with loss for fy 25 26
- Capital Gains Mismatch AIS
- Inward E-way bill from Tally Prime 7.1
- Query regarding exemption under Section 10(10AA) &
- NPO registered under sec 8 itr filing
- Form 144 (Earlier 27Q) – Reason Code (A/C/G/
- Nps taxation
- Representative assessee
Related Topics :
CAclubindia
