As per the fourth proviso to Companies (Accounts) Rules, 2014, in rule 6, a intermediate wholly owned subsidiary is not required to prepare consolidated financial statements, please help me to know what is the difference between a wholly owned subsidiary and intermediate wholly owned subsidiary?
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Intermediate wholly owned subsidiary
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Kindly note that this proviso of Rule 6 has been replaced another proviso by Notification dated 27.07.2016.
what is the meaning of intermediate wholly owned subsidiary...??
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