Income tax query

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Satvir Singh (Querist)
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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?

CA.Pujah

CA.Pujah (Expert)
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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.

CMA Arif Farooqui

CMA Arif Farooqui (Expert)
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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.

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