pls tell whether company is a citizen, does the company have any residential status??
pls tell whether company is a citizen, does the company have any residential status??
Residential Status
Company [Sec 6(3)]
Resident Company: An Indian company is always a resident in India. A non-Indian company is said to be resident in India, if the control and management of its affairs is situated wholly in India during the relevant previous year.
Non-Resident Company: If the control and management of a foreign company is situated wholly or partly outside India, the said company is non-resident in India for the relevant previous year.
Stress: In case of a company, there is no sub-division like 'Ordinarily resident' or 'Not ordinarily resident'
anand/ rana
(treasurer)
(30 Points)
Replied 28 December 2009
co is not a citizen and reason is:
CA Manasa
(CA)
(1479 Points)
Replied 28 December 2009
Originally posted by : Deep @ k Gupt/\ | ||
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Residential Status Company [Sec 6(3)] Resident Company: An Indian company is always a resident in India. A non-Indian company is said to be resident in India, if the control and management of its affairs is situated wholly in India during the relevant previous year. Non-Resident Company: If the control and management of a foreign company is situated wholly or partly outside India, the said company is non-resident in India for the relevant previous year. Stress: In case of a company, there is no sub-division like 'Ordinarily resident' or 'Not ordinarily resident' |
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Absolutely Correct..
anuj dhingra
(Accounts Executive)
(152 Points)
Replied 28 December 2009
I Agree with Deepak Gupta. but for ur Information i m going to Define control & managment
It means BOARD OF DIRECTOR'S MEETING must be held in india Then Resident
if BOD Metting Held outside india then Not resident
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