Team IN Filings

Income Tax

ITR for Foreign Subsidiary

According to the income tax act, companies act, transfer pricing guidelines & FEMA guidelines, every foreign subsidiary company is required to maintain compliance like a proprietorship, partnership firm, LLP or a corporation. Foreign subsidiary company compliance essentially includes filing of income tax return to the income tax department, filing of annual returns to the ministry of corporate affairs (MCA) and other filings to authorities like reserve bank of India (RBI) or Securities exchange board of India (SEBI). Like other corporations, foreign subsidiary company also required to comply with TDS regulations, GST regulations, ESI regulations etc. The compliance obligation for a foreign subsidiary company shall vary depending on the industry, state of incorporation, number of staffs and sales turnover.

Document Required

1. Copy of Memorandum of Association and Articles of Association of the company, the documents shall be in English language.
2. Full address of the registered office of the Company
3. Details of directors and Company Secretary of the Company
4. Name and other details of authorised representative of the Foreign Company appointed by the Foreign Company who must be an Indian
5. Timing of office i.e., opening, closing and holidays
6. Declaration on the fact that the director of the company or authorised representative were never convicted or debarred

paperwork

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