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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Branch Office Exemption from Section 228: Activity Limit Set at Two Lakh Rupees or 2% of Total Turnover</h1> A company engaged in manufacturing, processing, or trading activities may exempt a branch office from section 228 provisions if its average activity during the relevant financial year does not exceed two lakh rupees or two percent of the company's total turnover, whichever is higher. The company's auditor retains rights concerning the branch's accounts per section 228(2). The average quantum of activity is calculated based on the preceding three financial years, or fewer if the branch is newly established.
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