Rule 6 of sec 129
Provided further that nothing in this rule shall apply in respect of preparation of consolidated financial statement by an intermediate wholly-owned subsidiary, other than a wholly-owned subsidiary whose immediate parent is a company incorporated outside India:
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plz interpret this law.
Replies (1)
It means it means preparation of CFS doesn't apply to a INTERMEDIATE WOS. BUT if it is WOS whose holding company is a foreign company CFS will apply
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