Taxation on foreign company owned by resident indian
This query is : Resolved
09 November 2017
If a company/entity in USA is 100% owned by resident Indians .is there a tax liability of the company/entity in India
09 November 2017
yes.
The taxability is the function of residential status of the company. AND
residential status of the company is the one as that of the majority of the controlling management's residential status.
In short....the answer is yes, it is taxable in India since the company is resident and ordinarily resident in India
The taxability is the function of residential status of the company. AND
residential status of the company is the one as that of the majority of the controlling management's residential status.
In short....the answer is yes, it is taxable in India since the company is resident and ordinarily resident in India
09 November 2017
Yes it's taxable in both the countries but relief can be claimed for the tax paid out side India.
https://www.livemint.com/Politics/oZybP5TfOG1meFoob5Jf7I/Tax-residency-tweak-may-hit-Indian-firms-with-overseas-opera.html
https://www.livemint.com/Politics/oZybP5TfOG1meFoob5Jf7I/Tax-residency-tweak-may-hit-Indian-firms-with-overseas-opera.html
10 November 2017
According to https://flagtheory.com/companies-incorporated-outside-india/ it is not applicable to overseas entity with turnover less than 50 CR.Can you confirm.
10 November 2017
According to https://flagtheory.com/companies-incorporated-outside-india/ it is not applicable to overseas entity with turnover less than 50 CR.Can you confirm.
10 November 2017
Yes agreed with you.
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
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- TDS on property - Form 141 query
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Banking Related Issue
- Average Cost Of High Quality Diamonds
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- Difff in ais receipts and gst turnover
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
