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of <h1>Draft Principles for Determining Company POEM Under Amended Section 6(3) of Income-tax Act: Public Comments Invited.</h1> The circular outlines the draft guiding principles for determining the Place of Effective Management (POEM) of a company, as per the amended Section 6(3) of the Income-tax Act, 1961. The amendment aims to prevent tax avoidance by companies that shift control and management outside India. POEM is defined as the location where key management and commercial decisions are made. The guidelines specify criteria for determining POEM, such as the location of senior management and board meetings. The determination is based on substance over form, and companies engaged in active business outside India are presumed to have their POEM outside India if board meetings occur abroad. The circular invites public comments on these draft guidelines.
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