Residential Status
This query is : Resolved
23 March 2009
I am a bit confused regarding diffrentiating between Foreign Company & Non-Resident. Someone Please clarify in this regard.
24 March 2009
Resident Company: An Indian company is always a resident in India.
A non-Indian company is said to be a resident in India, if the control & management1 of its affairs is situated wholly in India during the relevant previous year.
Non-Resident Company: If the control & management1 of a foreign company is situated wholly or partly outside India, the said company is non-resident in India for the relevant previous year.
hence a in order to be a resident in India foreigh company should have its control and management fully in India o/w it is Non-resident
reagrds.................
A non-Indian company is said to be a resident in India, if the control & management1 of its affairs is situated wholly in India during the relevant previous year.
Non-Resident Company: If the control & management1 of a foreign company is situated wholly or partly outside India, the said company is non-resident in India for the relevant previous year.
hence a in order to be a resident in India foreigh company should have its control and management fully in India o/w it is Non-resident
reagrds.................
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