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Quiz for the week (02 Jun 2025) :

Manu Ltd is a company incorporated in UK. It was fully engaged in software development. It located its branch in Bengaluru. More than 90 % of its employees were located in India and more than 90% of its assets are in India. The shares of the company derive substantial value from the assets located in India. However, the Board of Directors are in UK and they controlled the operations from their place. Simranjit a resident but not ordinarily resident for the assessment year 2025-26 and who has substantial shareholding in the company received dividend from the company. Is the dividend received by him liable to tax in India as the shares derive value substantially from the assets located in India?

Share your thoughts on the above on or before 9th June, 2025

Email your reply at quiz.taxpub@gmail.com

Answers :