Welcome to Monday Corner, an initiative from Tax Publishers…
Monday Corner is specially designed to reward the intellectuals like you:
- We will send a Brainteaser on every Monday through email to your inbox and
- You need to send your answer in revert with reasoning by Wednesday at quiz.taxpub@gmail.com
The most suitable reply will be uploaded on our website (www.taxpublishers.in) in Monday Corner along with the photo/credentials of the winner of the week. If, per chance, winner happens to be more than one, the result will be drawn by lottery.
The winner would receive any one of the following books as free gift...
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