According to recent reports, the Indian government is planning to introduce the concept of stewardship functions in the guidelines for determining place of effective management (PoEM) ({News-2016-01-14/P/4- previous coverage}). The importance of PoEM is in regard to the determination of corporate residence in India, which was changed under Finance Act, 2015 from being based on when an entity is wholly controlled and managed in India, to instead being based on whether PoEM is in India (the res…