Hi,
If a Foreign Subsidiary is consolidated in an Indian parent Company's financial statements, then where is the domestic income of such foreign subsidiary classified in the consolidated financial statements? Export Income or Domestic Income. Also give rerefence to relevant paragraph of AS-21 if possible.
In my opinion, the foreign subsidiary's domestic income will be added to the domestic income in Indian Holding Company, as the consolidation is done on line by line basis.
A R JADHAV AND ASSOCIATES
Mumbai
CA Inter
View Details
Jawahar and Associates Chartered Accountants
Hyderabad
CA Inter
View Details
VIKAS VERMA & CO
New Delhi
Others
View Details
Vakilsearch.com
Chennai
CA Inter
View Details
CAclubindia
