Foreign company

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tarun panwar (Querist)
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20 September 2012 A is an Pvt. ltd company incorporate in India, 49% of which held by foreign company (Called B), 26 % held by another foreign company (called C) and remaining 25% is held by Indian company( Called D)

26% capital of C held by Indian company and remaining 74% held by foreign company.

Finally query is whether A is Indian company or foreign company

Please give me answer with Section

It's urgent

Amol S Joglekar

Amol S Joglekar (Expert)
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20 September 2012 Companies incorporated in India are INDIAN Company. Section 2(22A) of the income tax defines domestic company as Indian company, or any other company which, in respect of its income liable to tax under this Act, has made the prescribed arrangements for the declaration and payment, within India, of the dividends (including dividends on preference shares) payable out of such income.