Is profits earned by a company partly owned by residents and partly owned by non-residents and located in India included/excluded domestic income of India?
Is profits earned by a company partly owned by residents and partly owned by non-residents and located in India included/excluded domestic income of India?
Anurag Pathak Changed status to publish December 9, 2023
Yes,
profits earned by a company partly owned by residents and partly owned by non-residents and located in India will be included in the domestic factor income as profits are earned within the domestic territory of India.
Explanation:-
The profits earned by the residents and non-residents (foreign companies) within the domestic territory of India is included in the domestic income.
All incomes and profits generated by all within the domestic territory of India will be included in the domestic income of India.
Anurag Pathak Changed status to publish December 9, 2023
