A firm or company qualifies as a resident of India if either of the two conditions is met:; 1.The company or firm is Indian.; 2. Most of the effective management of the company, for the fiscal year in question, takes place in India.;
A firm or company qualifies as a resident of India if either of the two conditions is met:
1.The company or firm is Indian.
2. Most of the effective management of the company, for the fiscal year in question, takes place in India.
It is imperative that all the important managerial and commercial decisions pertaining to the company are taken in India.
A firm or company not adhering to the above two conditions would naturally attain the status of non-resident.