RESIDENTIAL STATUS OF A JOINT STOCK COMPANY

   

A Company can be assessed as Resident or a Non Resident in India on the same lines as a Firm or an AOP can be assessed. Following are the conditions when a Company can be treated as a Resident or Non resident for a previous year:- 

Residential Status

Control and Management of  Affairs

An Indian Company

A Foreign Company

RESIDENT

RESIDENT

Is situated Wholly in India

NON-RESIDENT

Is situated Partly in India

NON-RESIDENT

Is situated totally Outside India

  • The term Control and management herein refers to Central Controlling Power and has no reference to the day to day affairs of the Company.