U/s 92e is applicable or not

Stat Audit 1102 views 1 replies

FACTS:

1) our company is doing software job work/ sales to USA Firm.

2)Yes One of the our director is also a director/Partner/Proprietor in USA Firm.

3)Having the 50% Share holding in India Company.

4)The USA Firm (director/Partner/Proprietor) mother also a director and having the 50% of the share holder in India Company.

5) Company Authorised Capital of Rs. 2,00,000/- and Paid up Capital of Rs. 1,00,000/-

Qurries:

In the above facts whether our company is associated enterprises or not?

As our Turn over is below 1crore whether report u/s 92E is required or not?

Replies (1)

Your Indian firm is the associate enterprise of U S firm.

Report u/s 92E is applicable to every international transaction. Threshold limit is not mentioned.


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