09 September 2010
Dear Experts pls advice on following issue: Fact of Case: Our company has the Branches at Brazil,Thialand etc. In individual countries these are registered under local law as branch of Indian company. The books of Accounts of the branches where audited and taxes are paid in respective country(i.e Brazil,Thailand).. Query: whether the business income earned by branch will taxable in India? If yes how the tax will be workout considering Advance Tax,Tds paid in foreign countries.
please follow this link which may have answer to your query.Several situations are described here one of which may fit into your requirement.http://law.incometaxindia.gov.in/DIT/File_opener.aspxfn=http://law.incometaxindia.gov.in/Directtaxlaws/act2005/fc2.htm.Alsoyou may follow DTAA implications at http://law.incometaxindia.gov.in/DIT/File_opener.aspxfn=http://law.incometaxindia.gov.in/Directtaxlaws/cbdt/dta/A1_Brazil.htm and at http://law.incometaxindia.gov.in/DIT/File_opener.aspxfn=http://law.incometaxindia.gov.in/Directtaxlaws/cbdt/dta/A1_Thailand.htm
CAclubindia
