Taxation in India
Taxability in India
Individual
Company
Firm/LLP
Individual
Individual
Company
Firm/LLP
Tax incidence of an individual depends upon his residential status, which is defined on the basis of his physical presence in India as per the Income Tax Act.
Tax incidence of a company depends on the residential status of the company, i.e., whether the company has been incorporated in India or its place of effective management lies in India.
Tax incidence of a Limited Liability Partnership (LLP) depends on the residential status of the LLP, i.e., whether the control and management of its affairs are situated wholly or partially in India.
