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Commerce · Q317

Income Tax and Corporate Tax

Graduate and Post Graduate · Commerce · question 317

Q317

X Ltd is an Indian company. It carries own business in Mumbai and London. The entire control and management of X Ltd is situated outside India. Three-fourth of total income of the company is from the business in London, what is the residential status of X Ltd?

A.
Resident
Answer
B.
Non-resident
C.
Ordinarily resident
D.
Not ordinarily resident

Answer: Option A

Solution

Answer: Option A
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