[aaykarbhavan] Form 23AC (for FYE 31.03.12)

Hi,

Someone may please reply to the following query(s):

ABC Private Limited had paid up capital Rs.1 Lac as on 31.03.12.

Note 1. Company increased its paid up capital to Rs.1 Crore on 30.06.12.

Note 2. 99.50% of the paid up capital is held by foreign holding company.

Consequently, Indian private company became a subsidiary of foreign company.


Query

Should the company while filling Form 23AC say YES
to the field 8.(a) *Whether the company is a subsidiary company as defined under section 4?


Ans : ....................... (please see note 1. above and give reply)


Thanks



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