If a Indian Co. (A ltd) opens up a branch in a foreign country, what will be the residential status of such a branch i.e. whether such a branch shall be deemed as a foreign company or ?
Further if some other Indian Co. (B Ltd) enters into transaction directly with such branch of (A ltd) and wants to remit payments, whether form 15 ca/cb shall be required for such payments?
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15cb payment
Replies (1)
Generally, the branch would be considered a foreign company for tax purposes.
As for the transactions between Indian Company B Ltd and the foreign branch of Indian Company A Ltd, whether Form 15CA/CB would be required for remitting payments would depend on the specific circumstances of the transaction, including the nature of the payment and whether it is subject to withholding tax in the foreign country.
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