POEM

POEM guidelines – more clarity or ambiguity?

Income Tax - The increase in globalization and technological advancement has resulted in the international expansion of several multinational and Indian corporations. Over the years, these corporations have used their global presence to enter low-tax jurisdictions, primarily to reduce the overall effective tax costs. ...

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POEM – Tracking the evolution of new Residency Norm

Income Tax - Place of Effective Management (PoEM) has been one of the most deliberated aspects under the Indian Income Tax regime since its introduction vide Finance Act, 2015, especially for Indian transnational groups....

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Determination of Place of Effective Management- Analysis of recent amendment

Income Tax - A foreign company would be resident in India in any previous year if its POEM in that year is in India. There were no guidelines to determine POEM under Act. Hence, now CBDT has issued a circular No. 6 of 2017, dated 24.01.2017 under subject Guiding Principles for determination of Place of Effective Management (POEM) of a Company in this ...

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Implementation of POEM based residence deferred to 01/04/2017

Income Tax - The provisions of section 6 of the Act provide for conditions in which residence in India is determined in case of different category of persons. Section 6(3) deals with conditions to be satisfied for a company to be treated as resident in India in any previous year. Prior to amendment of section 6(3) by the Finance Act 2015, a company wa...

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Guiding Principles For Determination of POEM of a Company

Income Tax - In order to curb the erstwhile lacuna in the language of the Act and to prevent formations of various foreign shell companies, which are eventually controlled and managed from India, the Government of India amended the provision of clause (ii) of sub-section 3 of section 6 of the Act vide Finance Act, 2015 to avoid future revenue losses a...

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Clarification related to guidelines for establishing PoEM in India

Circular No 25 of 2017 - (23/10/2017) - Para 7 of POEM guidelines provides that the place of effective management in case of a company engaged in active business outside India (ABOI) shall be presumed to be outside India if the majority meetings of the board of directors (BOD) of the company are held outside India....

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Draft Notification on foreign company resident in India U/s. 115JH

F No 370142/19/2017-TPL - (15/06/2017) - CBDT invites comments and suggestions on the Draft Notification in respect of foreign company said to be resident in India under Section 115JH of the Income-tax Act, 1961...

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POEM guidelines not applies to company with turnover of Rs. 50 crores or less in a year

Circular No 08 of 2017-Income Tax - (23/02/2017) - Press Release on POEM guidelines dated 24th January, 2017 has, inter alia, stated that the POEM guidelines shall not apply to a company having turnover or gross receipts of Rs. 50 crores or less in a financial year ....

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Principles for determination of Place of Effective Management (POEM) of a Company

Circular No. 06/2017-Income Tax - (24/01/2017) - Section 6(3) of the Income-tax Act, 1961 (the Act), prior to its amendment by the Finance Act, 2015, provided that a company is said to be resident in India in any previous year, if it is an Indian company or if during that year, the control and management of its affairs is situated wholly in India....

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Draft Guiding Principles for determination of Place of Effective Management (POEM) of a Company

F. No. 142/11/2015-TPL - (23/12/2015) - F. No. 142/11/2015-TPL Section 6(3) of the Income-tax Act, 1961, prior to its amendment by the Finance Act, 2015, provided that a company is said to be resident in India in any previous year, if it is an Indian company or if during that year, the control and management of its affairs is situated who...

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Recent Posts in "POEM"

Clarification related to guidelines for establishing PoEM in India

Circular No 25 of 2017 (23/10/2017)

Para 7 of POEM guidelines provides that the place of effective management in case of a company engaged in active business outside India (ABOI) shall be presumed to be outside India if the majority meetings of the board of directors (BOD) of the company are held outside India....

Read More

POEM guidelines – more clarity or ambiguity?

The increase in globalization and technological advancement has resulted in the international expansion of several multinational and Indian corporations. Over the years, these corporations have used their global presence to enter low-tax jurisdictions, primarily to reduce the overall effective tax costs. ...

Read More
Posted Under: Income Tax | ,

POEM – Tracking the evolution of new Residency Norm

Place of Effective Management (PoEM) has been one of the most deliberated aspects under the Indian Income Tax regime since its introduction vide Finance Act, 2015, especially for Indian transnational groups....

Read More
Posted Under: Income Tax |

Draft Notification on foreign company resident in India U/s. 115JH

F No 370142/19/2017-TPL (15/06/2017)

CBDT invites comments and suggestions on the Draft Notification in respect of foreign company said to be resident in India under Section 115JH of the Income-tax Act, 1961...

Read More

POEM guidelines not applies to company with turnover of Rs. 50 crores or less in a year

Circular No 08 of 2017-Income Tax (23/02/2017)

Press Release on POEM guidelines dated 24th January, 2017 has, inter alia, stated that the POEM guidelines shall not apply to a company having turnover or gross receipts of Rs. 50 crores or less in a financial year ....

Read More

Determination of Place of Effective Management- Analysis of recent amendment

A foreign company would be resident in India in any previous year if its POEM in that year is in India. There were no guidelines to determine POEM under Act. Hence, now CBDT has issued a circular No. 6 of 2017, dated 24.01.2017 under subject Guiding Principles for determination of Place of Effective Management (POEM) of a Company in this ...

Read More
Posted Under: Income Tax |

Principles for determination of Place of Effective Management (POEM) of a Company

Circular No. 06/2017-Income Tax (24/01/2017)

Section 6(3) of the Income-tax Act, 1961 (the Act), prior to its amendment by the Finance Act, 2015, provided that a company is said to be resident in India in any previous year, if it is an Indian company or if during that year, the control and management of its affairs is situated wholly in India....

Read More

Implementation of POEM based residence deferred to 01/04/2017

The provisions of section 6 of the Act provide for conditions in which residence in India is determined in case of different category of persons. Section 6(3) deals with conditions to be satisfied for a company to be treated as resident in India in any previous year. Prior to amendment of section 6(3) by the Finance Act 2015, a company wa...

Read More
Posted Under: Income Tax |

Guiding Principles For Determination of POEM of a Company

In order to curb the erstwhile lacuna in the language of the Act and to prevent formations of various foreign shell companies, which are eventually controlled and managed from India, the Government of India amended the provision of clause (ii) of sub-section 3 of section 6 of the Act vide Finance Act, 2015 to avoid future revenue losses a...

Read More
Posted Under: Income Tax |

Surveillance on determination of Place of Effective Management

It is imperative to understand the sense behind introducing the concept of Place of Effective Management (hereinafter refereed as POEM first, before embarking determination aspect of Place of Effective Management. POEM is not a new concept at all; it is an internationally recognised test for determination of residence of a company incorpo...

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Posted Under: Income Tax |
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