Residential status of Companies- “Place of effective management”
“Place of effective management”
to mean 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 [Explanation to section 6(3)]
Note- w.e.f. 01-04-2017 The place of effective management of the company for deciding the residential status, shall not apply to a company having a turnover of Gross receipts of ₹50 crores or less in a financial year. [Circular No. 8/2017]
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