share transfer
This query is : Resolved
18 November 2010
A PVT. LIMITED COMPANY REGISTERED IN INDIA HAS TRANSFERED ITS 99% SHARES TO FOREIGN COMPANY AND WHOLLY MANAGED BY FOREIGHN COMPANY THEREFORE MY QUERY IS REGARDING THE ABOVE COMPANY IS :
1. WHAT WILL BE RESIDENCE STATUS OF THE ABOVE COMPANY
2.IS THE SAID COMPANY REQUIRE TO FILE ITS ROC RETURN
3. THE INCOME OF THE SAID COMPANY EARN IN INDIA IS TAXABLE IN INDIA AND ITS REQUIRE TO FILE INCOME TAX RETURN IN INDIA
YOU ARE REQUESTED TO KINDLY GIVE US THE ANSWER OF THE ABOVE QUERY AT THE EARLIEST IT IS VERY VERY URGENT
1. WHAT WILL BE RESIDENCE STATUS OF THE ABOVE COMPANY
2.IS THE SAID COMPANY REQUIRE TO FILE ITS ROC RETURN
3. THE INCOME OF THE SAID COMPANY EARN IN INDIA IS TAXABLE IN INDIA AND ITS REQUIRE TO FILE INCOME TAX RETURN IN INDIA
YOU ARE REQUESTED TO KINDLY GIVE US THE ANSWER OF THE ABOVE QUERY AT THE EARLIEST IT IS VERY VERY URGENT
19 November 2010
Dear Mr. Singh as per my understanding
1) since your company is registered in India It will remain an Indian Co. and by transferring its share, its status will not changed.
2)Yes, ROC returns to be filed as per Companies Act, 1956, and also you need to comply with FEMA.
3) Yes, Income of the Company is Taxable in India and IT return to be filed in India.
1) since your company is registered in India It will remain an Indian Co. and by transferring its share, its status will not changed.
2)Yes, ROC returns to be filed as per Companies Act, 1956, and also you need to comply with FEMA.
3) Yes, Income of the Company is Taxable in India and IT return to be filed in India.
19 November 2010
Hi...
Agreed with the expert!
Agreed with the expert!
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
