Profit / divident from subsidiary abroad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 May 2013
What are the treatment of Dividend Profit entered into the books of account of the Owner Company in India
15 May 2013
It will be taxable in india as income from other sources unless the company receiving dividend is an investment company in which case it will be taken as business income
15 May 2013
It will be taxable in india as income from other sources unless the company receiving dividend is an investment company in which case it will be taken as business income
CA. Anuj Gupta
(Expert)
15 May 2013
For tax purpose there should be no impact in the Indian company books
Anuj
femaquery@gmail.com
Anuj
femaquery@gmail.com
01 July 2013
10(23A) any income (other than income chargeable under the head 32[* * *] "Income from house property" or any income received for rendering any specific services or income by way of interest or dividends derived from its investments) of an association or institution established in India having as its object the control, supervision, regulation or encouragement of the profession of law, medicine, accountancy, engineering or architecture or such other profession33 as the Central Government may specify in this behalf, from time to time, by notification in the Official Gazette:
Provided that—
(i) the association or institution applies its income, or accumulates it for application, solely to the objects for which it is established; and
(ii) the association or institution is for the time being approved34 for the purpose of this clause by the Central Government by general or special order:]
35[Provided further that where the association or institution has been approved by the Central Government and subsequently that Government is satisfied that—
(i) such association or institution has not applied or accumulated its income in accordance with the provisions contained in the first proviso; or
(ii) the activities of the association or institution are not being carried out in accordance with all or any of the conditions subject to which such association or institution was approved,
it may, at any time after giving a reasonable opportunity of showing cause against the proposed withdrawal to the concerned association or institution, by order, withdraw the approval and forward a copy of the order withdrawing the approval to such association or institution and to the Assessing Officer;]
Provided that—
(i) the association or institution applies its income, or accumulates it for application, solely to the objects for which it is established; and
(ii) the association or institution is for the time being approved34 for the purpose of this clause by the Central Government by general or special order:]
35[Provided further that where the association or institution has been approved by the Central Government and subsequently that Government is satisfied that—
(i) such association or institution has not applied or accumulated its income in accordance with the provisions contained in the first proviso; or
(ii) the activities of the association or institution are not being carried out in accordance with all or any of the conditions subject to which such association or institution was approved,
it may, at any time after giving a reasonable opportunity of showing cause against the proposed withdrawal to the concerned association or institution, by order, withdraw the approval and forward a copy of the order withdrawing the approval to such association or institution and to the Assessing Officer;]
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