Income tax query
This query is : Resolved
23 May 2010
As per Sec 5 of IT act, taxable income in case of Resident but not ordinarily resident is income derived from a business controlled in or a profession set up in India.
My query is: Should the business be controlled wholly or partly from India?
My query is: Should the business be controlled wholly or partly from India?
24 May 2010
If the business is wholly controlled in India, then it will be taxable in India. The only dispute arise is when it is partially controlled from india.
26 May 2010
income from business set up in India whether fully or party control in India is taxable in hand of all types of resident.
if a business situated outside India then if it is control from India whether fully or party, it is taxable in hand of Resident and ordinary resident only.
if a business situated outside India then if it is control from India whether fully or party, it is taxable in hand of Resident and ordinary resident only.
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