Hi all,
I require clarification on this statement :
"A Foreign Company has opened an office for operating bank accounts in India. Hence it is supposed to 'carry on business' in India."
Is it true. Can i get answers supporting your statement.
Thanks in advance.
Madam,
It would be better that if you can write full quote. Its looking like that a question put in the examination paper and asks from students that give the name of lesson from this sentence belongs!!!
The decision differs from case to case. What constitutes a place of business and what not depends on various facts.
Regarding your query, as per module of ICSI available with me, activity of operating bank account WILL NOT constitute carrying on of business. (The module is of 2006 edition)
Mr.Mohit,
Thanks for your reply. Your answer is absolutely right. I went through the ICSI module too..
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