Books of accounts and financials in USD

[Velayutham Panchatcharam]

I am working in MNC located in SEZ which is branch of foreign company and reporting currency is rupees. Please advice somebody whether we can maintain books and financials in USD to report to Income tax, ROC and other statutory bodies.

AI Summary

Accounting currency for statutory filings: whether books may be maintained in foreign currency for tax and corporate reporting. Query whether an SEZ branch of a foreign multinational, with internal reporting in rupees, may maintain books of account and financial statements in a foreign currency for submission to the Income Tax department, the Registrar of Companies and other statutory bodies, focusing on compatibility of foreign currency accounting with domestic statutory reporting obligations.