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<h1>Foreign Companies' Resident Status in India Clarified: Comprehensive Tax Guidelines for Place of Effective Management Transition</h1> The Central Government issued a notification regarding the tax treatment of foreign companies becoming resident in India due to Place of Effective Management (PoEM). The notification provides detailed guidelines for calculating depreciation, carrying forward losses, tax compliance, and treatment of foreign tax credits. It ensures a structured approach for transitioning foreign companies to Indian resident status for tax purposes, with specific provisions to minimize disruption and maintain consistent tax treatment.