Dear Sir / madam
One Company registered in US. does not have Registered Office in INDIA.
Personnel working from INDIA for that company are retained as consultants and money disbursed as consultancy fee once a month.
A separate Account is maintained for this and US dollars are converted into Indian Rs. and payments are settled for all those clients who did consultancy services for them.(US COMPANY).
Currenty, the Company does not generated any revenue from INDIA.
The Auditors of the Company in US, advised the Company to retain the 35% disbursement of payment made to INDIA as a tax.
Please advise regarding this query.
the Foreign Company is like to start a
BRANCH OFFICE in INDIA or
Subsidiary Company in INDIA or
Wholly Indian Company having MOU with Foreign Company..
Which option is best or suitable for the Company for taxabiliy purposes.
CAclubindia
