Q. Should Section 8 Company need to be consolidated in Holding Company's Consolidated financials?

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Question added Dec 12, 2022 Ind AS By Jugraj Singh, CA, noida

Company:  ABC Limited

The Company has made investment of INR 1 lakhs in newly incorporated Section 8 company registered in India- ABC foundation in Jan 2022.

ABC foundation is a wholly owned Subsidiary Company.

Purpose of ABC foundation- CSR activities

Query: Should ABC foundation need to be consolidated in ABC limited for year end March 2022?

1 Answer

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answered Dec 19, 2022 By CA PRAMOD JAIN, CA, CS, CMA, LL.B, Delhi
There seems to be no exception for section 8 company for consolidation

Concept by CA Pramod Jain

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