Which of the following criteria would make a foreign company to have its active business outside India? (i) Passive income is not more than 50% of its total income (ii) Less than 50% of its total assets are situated in I
CS Executive · Tax Laws · PYQS · June 2023
Which of the following criteria would make a foreign company to have its active business outside India? (i) Passive income is not more than 50% of its total income (ii) Less than 50% of its total assets are situated in India (iii) Less than 50% of the total employees are resident in India and (iv) Less than 50% payroll expenses incurred on employees situated in India
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D).
Topics: Income Tax Act, 1961
Related Questions in this Topic
- Crow Ltd is engaged in export of articles and things eligible for deduction under section 10AA of the Income Tax Act, 19...
- Raghu retired on 31st October, 2022 after rendering service for 32 years in a listed company. He received ₹23,00,000 as ...
- Dave & Co. made a turnover of ₹160 lakh during the financial year 2022-23. It received ₹90 lakh by way of RTGS and n...
- Laxmi received ₹30,000 per month by way of family pension (consequent to demise of her husband, who died in April, 2019)...
- CVR & Co. has speculation business loss of ₹12,40,000 for the assessment year 2023-24. For how many assessment years...