I read Ind As 21 , but it could not make me clear so can anyone provide the better and valuable suggestions on my below query of ITR filing on the Consolidated financial statement of Subsidiary Company with its Parent/holding company And Branch office with its Head office -:
- Can we calculate income tax and file ITR on the basis of consolidated P&L statements when Head Office is registered in India but Branch office is registered in foreign territory (Branch office is being regulated by foreign tax laws) ?
- Can we calculate income tax and file ITR on the basis of consolidated P&L statements when Parent/Holding company is registered in India but Subsidiary is registered in foreign territory ( Subsidiary is being regulated by foreign tax laws) ?
- Can we calculate income tax and file ITR on the basis of consolidated P&L statements when Parent/Holding company is registered in India and Subsidiary is also registered in India ( Subsidiary has its separate existence having pan, tan) ?
CAclubindia
