TaxTMI 
TaxTMI 
Residential Status for Corporate & Non-Corporate Assessee - Outside India
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.... would be regarded as " Non-Resident" assessee during the relevant previous year for all purposes of this Act. Non-Resident Indian (NRI) Non-Resident Individual (NRIs) means whose Residential status is Non-Resident as per Section 6 of IT, Act, 1964 + Indian Citizen/Person of Indian Origin. Foreign Company A foreign Company is resident in India, only if, during the previous year, Place of effec....
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....r with exception, modification and adaptations specified. [ Notification 29/2018, dated 22.06.2018] Guiding Principles for determination of Place of Effective management ('POEM') of a Company, other than an Indian company - Circular no. 25/2017 dated 23-10-2017, and 6/2017 dated 24-1-2017 Place of effective management' (POEM) is an internationally recognised test for determination of residen....
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.... in India; and Less than 50% of the total number of employees * are situated in India or * are residents in India; and Payroll expenses incurred on such employees are less than 50% of its total payroll expenditure. Meaning of Certain Term Income shall be * (a) as computed for tax purpose in accordance with the laws of the country of incorporation; or * (b) as per books of account, w....
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....its value for tax purposes in the country of incorporation of the company at the beginning and at end of the year; * (c) In case of any other asset, shall be * its value as per books of account. Number of Employees * The average of the number of employees as at the beginning and at the end of the year and shall include persons, * who though not employed directly by the company, perform t....