Two persons want to apply for incorporation of a Pvt. Ltd. company in India. One share holder is a company based outside India and another one is a Resident Indian. Foreign company will pay 100% money and Indian individual will be helping them to establish in India and will be working actively. Both of them have agreed to have equal share in the company. My query is that How to give equal share to both applicants if only one is investing?
It means 50% is being paid by foreign company, on behalf of him. shares should be subscribed in the name of that person. (Wail for expert's reply)
Thanks Sandeep. In such case it will be considered income in the hand of Indian subscriber and there will be huge tax liability for him as the investment amount is quite big.
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