Taxability of Foreign Branch
This query is : Open
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.
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.
09 September 2010
Dear Amol,
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
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
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?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- 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
