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Residential status

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(Querist)
23 December 2011 Suppose,an Indian listed co. has a 100% subsidiary at Mauritius.The directors of subsidiary co. are also the directors of holding co. Wht will be the residential status of subsidiary co. and whether income of that co. will be taxable in India????
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
23 December 2011 3) A company is said to be resident in India in any previous year, if—

(i) it is an Indian company ; or

(ii) during that year, the control and management of its affairs is situated wholly in India.

Here management is totally in India then the company would be a resident in India as per details above.

However i think every company abroad requires a local director and hence there would be director non resident in India and can be shown to take all decisions for the company not become a resident of India.
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