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Foreign as per companies act

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(Querist)
18 January 2012 A foreign company is registered in India as a Pvt Ltd company and 99% of its shares are held by a foreigner. Is this company considered as Domestic company or a foreign company for Income Tax purpose?
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CS Suraj Arora

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CS Suraj Arora (Expert)
19 January 2012 Dear Sheetal

Your Company will be considered as Foreign Company and Income tax Rate applicable to foreign Company will be applicable.

Further,If your Company be incorporated under provisions of Companies Act and then in your case it will be treated as Domestic Company.

Regards
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