International taxation of individual : dtaa
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 August 2012
Facts of the case :
Mr.X a Non Resident of USA and a Resident Indian is an owner of LLC in USA.
LLC do the business of 100000$ in USA and spent 90000$ for the business and on Business income of $10,000. on this business incoem it pays applicable taxes in USA @ 15% i.e. $ 1500.
What will be the tax implication for the balance $ 8500. if Mr. X
1) Bring this $ 8500 in India, Will it be taxable in india? will DTAA would come in focus ? What about Transfer pricing ?
[ considering the fact LLC is located in India but managed & Control by owner Mr. X in india. ]
2)Do not bring $ 8500 in India.
Will it be taxable in india? will DTAA would come in focus ? What about Transfer pricing ?
[ considering the fact LLC is located in India but managed & Control by owner Mr. X in india. ]
NOTE : PLEASE REPLY IF YOU ARE SURE ABOUT YOUR ANSWER. ( if you want to put only your view in that case don`t forget to say it is just your view which is subject to confirmation).
THE ONLY REASON TO TELL THIS IS THAT, NO ONE SHOULD BE MIS GUIDE WITH THIS CONVERSATION.
AND EVERY QUERY ON THIS DESK / CA CLUB SHOULD BE RESOLVED WITH CORRECT ANSWERS ONLY.
Mr.X a Non Resident of USA and a Resident Indian is an owner of LLC in USA.
LLC do the business of 100000$ in USA and spent 90000$ for the business and on Business income of $10,000. on this business incoem it pays applicable taxes in USA @ 15% i.e. $ 1500.
What will be the tax implication for the balance $ 8500. if Mr. X
1) Bring this $ 8500 in India, Will it be taxable in india? will DTAA would come in focus ? What about Transfer pricing ?
[ considering the fact LLC is located in India but managed & Control by owner Mr. X in india. ]
2)Do not bring $ 8500 in India.
Will it be taxable in india? will DTAA would come in focus ? What about Transfer pricing ?
[ considering the fact LLC is located in India but managed & Control by owner Mr. X in india. ]
NOTE : PLEASE REPLY IF YOU ARE SURE ABOUT YOUR ANSWER. ( if you want to put only your view in that case don`t forget to say it is just your view which is subject to confirmation).
THE ONLY REASON TO TELL THIS IS THAT, NO ONE SHOULD BE MIS GUIDE WITH THIS CONVERSATION.
AND EVERY QUERY ON THIS DESK / CA CLUB SHOULD BE RESOLVED WITH CORRECT ANSWERS ONLY.
17 October 2012
LLC is in USA. not registered in India. Since, during that year, the control and management of its affairs is situated wholly in India, it is liable to income tax in India. The company can take the benefit of 90 or 90A or 91, as the case may be.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Regarding TDS Applicability For Director Remuneration
- Copyright software
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- FORM 26A APPLICABILITY
- When TDS on GST applied
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
