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Company

Direct Taxation

What's the difference between Domestic Company and Indian Company?

Priyanka Udeshi

CA Final

★ 14K+

26-Jan-21 22:00

269

Answers (2)

Domestic company means an Indian company only

Venkateshwara Prabhu

CA Inter

★ 16K+

27-Jan-21 01:22

Venkateshwara Prabhu

Domestic company means an Indian company only

S. 2(22A) says "domestic company" means an Indian company, or any other company which declares and pays dividend from taxable income withing India S.2(26) says Indian company is registered under the Companies Act, 1956 and the principle office is in India. All Indian Company are treated as Domestic Company but all Domestic Company are not Indian Company. If a Foreign Company makes prescribed arrangements for payment of dividends in India it shall be treated as Domestic Company.