12 November 2014
Hello, Here is my question: Mr. A , an Indian Citizen & resident is the owner of a company registered in USA and also owner of a Proprietorship firm in India. The Firm provides service to the Foreign company of MR. A and gets remuneration from it in USD$. Will the Foreign company and Prop.Firm be treated as the same in the eyes of law as both are owned by Mr.A. And will Mr. A be Taxed for his Foreign Income too. The Foreign Income is already subject to Tax in USA.