https://www.taxtmi.com/news?id=18275 The rule prescribes that most holding companies shall not have more than two layers of subsidiaries, excluding one wholly owned subsidiary layer from the count; investment company layering limits remain applicable and such subsidiaries count toward the layer calculation. Exempt classes include banks, systemically important NBFCs, insurance companies, and Government companies. Acquisition of foreign subsidiaries having downstream subsidiaries under foreign law is preserved. Existing holding companies with excess layers need not reduce them but must not add new layers and must file Form SDD-1 disclosing layers upon electronic filing availability. en-us Thu, 29 Jun 2017 16:04:30 +0530 Thu, 29 Jun 2017 16:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=18275 The rule prescribes that most holding companies shall not have more than two layers of subsidiaries, excluding one wholly owned subsidiary layer from the count; investment company layering limits remain applicable and such subsidiaries count toward the layer calculation. Exempt classes include banks, systemically important NBFCs, insurance companies, and Government companies. Acquisition of foreign subsidiaries having downstream subsidiaries under foreign law is preserved. Existing holding companies with excess layers need not reduce them but must not add new layers and must file Form SDD-1 disclosing layers upon electronic filing availability. News - Thu, 29 Jun 2017 16:04:30 +0530 https://www.taxtmi.com/news?id=18275