POEM Guidance For Companies Engaged in Active Business Outside India

POEM Guidance

In our previous post, we discussed the idea of Place of Effective Management and how it came into existence. Today we will be focusing on the POEM guidance for companies that are engaged in active business outside India. Determination of “active business outside India” A company shall be considered as engaged in “active business outside India” if […]

Place of Effective Management Rules

Place of Effective Management Rules

The idea of Place of Effective Management or POEM was first introduced in the Finance Act 2015 for the purpose of determining the residential status of foreign businesses. As per the act, any business having its place of effective management in India will be considered as an Indian resident and accordingly, it’s global income will […]

Trade Advances Not To Be Deemed As Dividends

Trade Advances

SECTION 2(22) OF THE INCOME-TAX ACT, 1961 – DEEMED DIVIDEND – CBDT’S CLARIFICATIONS ON SETTLED VIEW OF SECTION 2(22)(e) OF SAID ACT ON TRADE ADVANCES/COMMERCIAL TRANSACTIONS CIRCULAR NO.19/2017 [F.NO.279/MISC./140/2015/ITJ], DATED 12-6-2017 Section 2(22) clause (e) of the Income-tax Act, 1961) (the Act) provides that “dividend” includes any payment by a company, not being a company in which the […]

The most frequent problems that business owners face are to do with accounting & regulatory compliance. Entrepreneurs view time invested in doing both as unproductive time.

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