Start Steps consolidating foreign subsidiary

Steps consolidating foreign subsidiary

Consolidation requirement under Companies Act, 2013 (‘Act, 2013’) Section 129 (3) read with Rule 6 of the Companies (Accounts) Rules, 2014 (Rules) provides manner of consolidation of financial statements of subsidiaries pursuant to Schedule III of the Act, 2013 and the applicable Accounting Standards.

FUTRLI allows you to consolidate multiple Organisations into one entity.

Once consolidated, you can report on these Organisations as a single entity using any Card Type or custom metric that you wish.

If the churning measure did not apply, the tax cost of Target Co’s assets would be reset under the consolidation entry tax cost setting rules Foreign Resident Co, as the control entity, maintained a total participation interest of at least 50 percent in the Target Co throughout the test period (actually 100 percent) comprising of a direct participation interest of 100 percent at the beginning of the test period and at the end of the test period, Foreign Resident Co had an indirect participation interest of 100 percent.