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Residency Status

Others 297 views 4 replies

Hello All,

Request your clarification / advice on the following.

I am a Singapore Registered Permanent Establishment with a wholly owned Subsidiary in India in which I hold majority shares. I am represented by my Director who is a Singapore Resident.

Question - Assuming the Director, visits India for more than 180+ days in a financial year would it have an impact on the Status of the Indian Subsidiary? Any impact on the Singapore Entity.

Thank you

Kind Regards

Venkat

 

Replies (4)
Sec 6(1) regulates the residency status of an assesse .
No ,it will not impact Indian subsidiary for companies act purpose.. Indian subsy registered as company will always be incorporated in india
The querist has asked for residential status of citizen and not for company.Kindly adhere to the norms.
@ Sabyasachi , interpret the question correctly , what he asked that if director visits India for more than 180 days ,will it impact the residency status of INDIAN Subsidiary and Overseas Entity ,it's clear that question asked in relation to subsy and not about himself ,for taxation point of view ,Indian Subsy will always be indian ,Only Term where residency is prescribed in Companies act is regarding Resident director for 182 days in FY.... Yes as per IT act he may be NOR..


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