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6(3)]
Section 6(3)(i) : Indian Company
Always Resident in India.
A foreign company (with effect from the assessment year 2017-18) is resident
in India if its place of effective management (POEM), during the relevant
previous year, is in India. For this purpose, the place of effective management
means a place where key management and commercial decisions that are
necessary for the conduct of the business of an entity as a whole are, in
substance made. For this purpose, a set of guiding principles (to be followed
in determination of POEM) have been issued by the Board in Circular No.
6/2017, dated January 24, 2017.
Section 6(3)(iii) : A Foreign Company (whose
turnover/gross Always Non-Resident in India [Note
3] receipt in the previous year is Rs. 50 crore or
less)
Always Non-Resident in India