24 December 2010
If the company is regsitering with RBI as Part and parcel of the Foregin Company then need tp submitt Annual Accocunts Statements and ACtivity Certificate from CA to RBI every year and with Direcotrate of Income Tax.
24 December 2010
Both the replies above fail to point out that the Indian subsidiary shall be required to report the inward remittance of share application/share capital within 30 days to RBI. The same share application money/share capital needs to be allotted to the concerned persons within 18 days and the that allotment shall also be reported in 30 days to RBI in Form FCGPR. Also the requirements provide by CA Rajiv Shukla are applicable in case of a branch/liaison/project office of foreign company in India and not in case of a foreign subsidiary.