Inclusion of non resident companies: amendment treats companies incorporated outside India with no Indian business as subject to wealth tax. The amendment inserts a new clause into section 45 of the Wealth tax Act deeming included, as taxable persons under the Act, any company incorporated outside India which has no place of business in India, thereby expanding the statutory scope to cover foreign incorporated companies without an Indian place of business.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Inclusion of non resident companies: amendment treats companies incorporated outside India with no Indian business as subject to wealth tax.
The amendment inserts a new clause into section 45 of the Wealth tax Act deeming included, as taxable persons under the Act, any company incorporated outside India which has no place of business in India, thereby expanding the statutory scope to cover foreign incorporated companies without an Indian place of business.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.