Foreign Subsidiary Company Compliance
Foreign subsidiary companies are mandatorily required to maintain compliance as per Income Tax Act, Companies Act, transfer pricing guidelines and FEMA guidelines. Hence, maintaining compliance for a foreign subsidiary company would includes filing of income tax return with the Income Tax Department, annual return with the Ministry of Corporate Affairs and other filings with authorities like Reserve Bank of India or Securities & Exchange Board of India (SEBI). Finally, like all companies, foreign subsidiaries would also have to comply with other Indian tax regulations like TDS regulations, GST regulations, VAT / CST regulations, Service Tax regulations, ESI regulations and others. The compliance requirement for a foreign subsidiary company would vary based on the industry, state of incorporation, number of employees and sales turnover.
To begin the process for winding up of LLP, a resolution for winding up of LLP must be passed and filed with the Registrar within 30 days of passing of the resolution. On the date of passing of resolution of winding up of LLP, the voluntary winding up shall be deemed to commence. Businesscrow can help you wind up your LLP quickly and easily.
Major Compliances for a Foreign Subsidiary Company
Income Tax & Annual Return
Income tax filing and annual return filing must be completed by all One Person Company before 30th September of each financial year.
Under the GST regime proposed to be rolled out in 2017, one person companies having GST registration would be required to file monthly, quarterly and annual GST returns.
Quarterly TDS returns must be filed by one person companies that have TAN and are required to deduct tax at source as per TDS rules.
ESI return must be filed by all one person companies having ESI registration. ESI registration is required once the one person company employs over 10 employees.
Service Tax or VAT
In case a one person company has service tax or VAT registration, it must file the respective returns. Service tax returns are due half-yearly while VAT return due date changes from state to state.
Simple & Transparent Pricing
Rs. 49999.00All Inclusive
Rs. 59999.00All Inclusive
Rs. 89999.00All Inclusive
How BusinessCrow can help with foreign subsidiary company compliance
BusinessCrow can help to file the mandatory annual return for your company and maintain annual compliance with the Ministry of Corporate Affairs.
Annual Return Preparation
A BusinessCrow compliance expert will prepare the Annual Return for your Company based on the financials and performance during the previous financial year.
Annual Return Verification
Once the Annual Return is prepared in the requisite format, the Client's Finance Team can verify the prepared annual return and affix the digital signature
Once the Annual Return is prepared and verified, the Annual Return can be filed under the Ministry of Corporate Affairs.
Check Company Name Availability
Check availability of company or LLP name in India against the MCA and trademark database.