Residential status of an Indian company is resident and ordinarily resident for the year

CS Executive · Tax Laws and Practice · PYQS · December 2015
Residential status of an Indian company is resident and ordinarily resident for the year
(A) If the entire control and management is wholly in India
(B) If part of the control and management is in India
(C) Regardless of the place of control and management
(D) If it is listed on recognised stock exchange.

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C). Official source note: Residential status of an Indian company is resident and ordinarily resident for the year — (A) If the entire control and management is wholly in India (B) If part of the control and management is in India 62

Topics: Income Tax Act, 1961

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