Hi Forum Member,
Need your kind help to answer the following question:
In Form AOC-1 ( subsidiary financials), is the turnover and profit of foreign subsidiaries that have further child subsidiaries, provided in standalone or consolidated form?
Regards
Rishi
For Form AOC-1, report the standalone turnover and profit/loss of the foreign subsidiary. Do not consolidate the financials of its underlying "child" or step-down subsidiaries into the parent's line items in the table.
M N Rao & Associates LLP
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