I would like to know whether we need to maintain ledger of the Subsidiary in our Indian Accounting records provided the subsidiary is treated as cost centre.
How the section 212 of Companies Act applies in this case?
If Earlier the subsidiary is profit centre but now it is cost centre.
1. In such scenario, if subsidiary sends us revenue for whatever project Indian company has done for them or if Indian company has more than 51% stake in such subsidiary company then what could be the implication in regards with revenue booking?
1. In such scenario, if subsidiary sends us revenue for whatever project Indian company has done for them or if Indian company has more than 51% stake in such subsidiary company then what could be the implication in regards with revenue booking?
CAclubindia
