21 October 2011
X ltd is a co.having head office in sydney.this co.wants to open a branch office in delhi but is waiting for a permission from RBI .in mean time X has got an order of Rs.1500000,now what will be the tax treatment on X Ltd and the customer? if the Xltd is having Pan card from govt of india. plz reply urgently.
21 October 2011
X ltd . is foreign Company and required to pay tax 40%....on income accrue or arise in India...hence rs. 1500000/- treated as income accrue or arise in India...still x Ltd required to pay Tax.
CAclubindia
