Our company is a subsidiary company of foreign company. During the year 2011-12, there was no additional capital investment from holding company. No monetary inflow from the holding company.
We purchase all inputs(goods) from the holding company and once in a month we will pay for the goods purchased.
Can any one please let me know whether it is mandatory for us to file annual return on foreign liabilities and assets?
Thanks in advance.
yes it is required to be filed whether or not any new investment ie. fdi is received and other asset and liabilities should also be reported in Part V of new form of annual return
Thanks for the information Rajveer...
Actually due date is already over.. if we file it now, do we need to pay any interest/penalty?
Please let me know...
give a condonation letter alongwith it give a suitable reason for that
O P Bagla & Co LLP
New Delhi
CA Inter
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