Indian firm providing service to foreign comapny

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 November 2014 Hello,
Here is my question:
Mr. A , an Indian Citizen & resident is the owner of a company registered in USA and also owner of a Proprietorship firm in India. The Firm provides service to the Foreign company of MR. A and gets remuneration from it in USD$. Will the Foreign company and Prop.Firm be treated as the same in the eyes of law as both are owned by Mr.A. And will Mr. A be Taxed for his Foreign Income too. The Foreign Income is already subject to Tax in USA.

Kindly provide solution.
Thank you.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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12 November 2014 Given that he is a resident, his global income is taxable in india.

He can howevr claim credit of taxes paid in USA.

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