11 December 2011
Sec 2(22A) specifies that -----“domestic company” means an Indian company, or any other company which, in respect of its income liable to tax under this Act, has made the prescribed arrangements for the declaration and payment, within India, of the dividends (including dividends on preference shares) payable out of such income ;]
Indian co--registered in india.
my ques is if a co is registered o/s india & earning income in india by providing consultancy services in india & that company declares dividend & if there are few shareholders who are indian then whether it would be called a domestic company b/c the above section covers that (highlighted).
they are remitting the money earned in india by filing form 15CB & 15CA
11 December 2011
In case, of the company other than the Indian Company, if it meets all the requirement including making the arrangements for the declaration and payments of dividend payable out of Its Indian Income, then it comes under this definition.
CAclubindia
