Draft Notification of exception, modification and adaptation in respect of foreign company said to be resident in India under Section 115JH of the Income-tax Act, 1961

Draft Notification of exception, modification and adaptation in respect of foreign company said to be resident in India under Section 115JH of the Income-tax Act, 1961– comments and suggestions-reg. https://www.taxtmi.com/news?id=18192 The draft notification prescribes transitional adaptations where a foreign company becomes resident in India by reason of its Place of Effective Management, retaining its status as a foreign company for many purposes while applying specified exceptions for computation of total income, adoption of opening WDV from foreign tax records or books, deemed brought forward losses and unabsorbed depreciation allowed for set off and carry forward, interim accounting and accounting year alignment rules, application of withholding and double taxation relief mechanisms, and Rule 115 exchange conversion. en-us Thu, 15 Jun 2017 17:15:17 +0530 Thu, 15 Jun 2017 17:18:00 +0530 TaxTMI RSS Generator Draft Notification of exception, modification and adaptation in respect of foreign company said to be resident in India under Section 115JH of the Income-tax Act, 1961– comments and suggestions-reg. https://www.taxtmi.com/news?id=18192 The draft notification prescribes transitional adaptations where a foreign company becomes resident in India by reason of its Place of Effective Management, retaining its status as a foreign company for many purposes while applying specified exceptions for computation of total income, adoption of opening WDV from foreign tax records or books, deemed brought forward losses and unabsorbed depreciation allowed for set off and carry forward, interim accounting and accounting year alignment rules, application of withholding and double taxation relief mechanisms, and Rule 115 exchange conversion. News - Thu, 15 Jun 2017 17:15:17 +0530 https://www.taxtmi.com/news?id=18192