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of <h1>New POEM Guidelines Exempt Small Companies from Tax Residency Rules, Effective April 2017, per Circular No. 6 of 2017.</h1> The circular clarifies the determination of the Place of Effective Management (POEM) for companies other than Indian companies, as introduced by the Finance Act, 2015. Effective from April 1, 2017, this provision impacts the residential status of such companies for tax purposes, applicable from Assessment Year 2017-18 onwards. The guidelines, issued in Circular No. 6 of 2017, specify that companies with a turnover or gross receipts of Rs. 50 crores or less in a financial year are exempt from these POEM guidelines. This clarification ensures that smaller companies are not subject to the POEM provisions.
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