Investment Outside India in Wholly owned Subsidiary

No, It is not enough.

Prepare the quarterly audit report of the Company.

There will be no transaction for the first 2 month.

But auditor will scrutinise the September's transaction

Thanks Ankur for reply. 

You mean to say that, Audit should be carried out uptill a particular date say upto 30th September 2009 and a Balance Sheet and P& L A/c should be prepared duly audited and signed by Auditor and Director. 

However this B/s will be only for 23 days (part of Financial year) and will not be filed with ROC or Income Tax. 

Please clarify. 

Malav 

Yes,

You understood the concept exactly.

In ROC & Income tax Balance sheet for the whole year should be filed.

It is not required to file this Quarterly Balance sheet.