Residential Status for Companies-change in Definition

April 19, 2017

RESIDENTIAL STATUS FOR COMPANIES-CHANGE IN DEFINITION

Earlier Provisions under the Income tax Act (Sec 6)

A Company is said to be resident in India if:

  • It is an Indian Company,

or

  • During that year ,the control and management of its affairs is situated wholly in India
 Existing Provisions under the Income Tax Act (Sec 6)

A Company is said to be resident in India if:

  • It is an Indian Company

or

  • Its Place of Effective Management (POEM)in that year is in India.

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