The Indian Central Board of Direct Taxes has published a draft notification for consultation concerning the tax treatment of foreign companies when deemed to be resident in India in a previous year for the first time as determined by India's new place of effective management (POEM) rules ({News-2017-01-25/A/3- previous coverage}).
In particular, the notification sets out the exceptions, modifications, and adaptations for application of the provisions of the Income Tax Act 1961 in respect of…