Dear All,
We have an interesting case that goes like this:
2 shareholders cum directors in India has set up a company in singapore engage in the business of software development. Both the directors are in India. The company has appointed a Company Secretary in singapore and the directors never visited Singapore in that FY.
The company has made a net profit of Rs. 300,000 Singapore dollars in the year.
The question is:
1. Is this Net Profit taxable in India?
2. What is the best way to get this profits back to India?
Regards,
Malay
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This Group consist of few members to discuss the tax related matters
1 comment:
Dear Malay,
On earning the profits there would be no taxes. It would be only when Dividend is declared and sent to India.
Singapore hives underling credit for all incomes. You have to pay the balance taxes after deducting the taxes paid in singapore.
In turn it can be bought in as investment in some other group companies. That will only delay the payment of taxes.
Regards
Sanjay Chokshi
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