Foreign branch - residential status
This query is : Resolved
12 August 2011
Dear Experts, please help me in the following query:
If a Indian Co. (A ltd) opens up a branch in a foreign country, what will be the residential status of such branch i.e. whether such branch shall be deemed as a foreign company or ?
Further if some other Indian Co. (B Ltd) enters into transaction directly with such branch of (A ltd) and wants to remit payments, whether form 15 ca/cb shall be required for such payments?
If a Indian Co. (A ltd) opens up a branch in a foreign country, what will be the residential status of such branch i.e. whether such branch shall be deemed as a foreign company or ?
Further if some other Indian Co. (B Ltd) enters into transaction directly with such branch of (A ltd) and wants to remit payments, whether form 15 ca/cb shall be required for such payments?
15 August 2011
That branch will not have any identity separate from the Indian Co.(A Ltd.).
Whereas B Ltd another Indian Company enters directly with Foreign Branch of A Ltd, then it should require to obtain 15CA/CB for remittance.
Whereas B Ltd another Indian Company enters directly with Foreign Branch of A Ltd, then it should require to obtain 15CA/CB for remittance.
16 August 2011
Sir, thanks for your opinion. But I still have my query open.
If the branch does not have any separate identity, then it shall obtain the status of a resident(i.e. status of the Indian Co). And form 15 ca/cb are required only for payments to be made to non-residents.
Then why form 15ca/cb should be required?
Please clarify.
If the branch does not have any separate identity, then it shall obtain the status of a resident(i.e. status of the Indian Co). And form 15 ca/cb are required only for payments to be made to non-residents.
Then why form 15ca/cb should be required?
Please clarify.
16 July 2023
"Sorry, I am not a featured member."
For featured members contact....
https://www.caclubindia.com/catalogue/featured.asp
For featured members contact....
https://www.caclubindia.com/catalogue/featured.asp
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Tds on building rent monthly
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
