John Miller & Co. of UK is maintaining and operating a branch in India for the sale of its garment products. The adjusted total income of the branch for the year prior to the charge of HO expenses of ₹ 20 lakh is ₹ 100 lakh. Indian branch intends to know the maximum amount of HO expenses as allowable during the year under the Act. Specify the amount:

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Question:John Miller & Co. of UK is maintaining and operating a branch in India for the sale of its garment products. The adjusted total income of the branch for the year prior to the charge of HO expenses of ₹ 20 lakh is ₹ 100 lakh. Indian branch intends to know the maximum amount of HO expenses as allowable during the year under the Act. Specify the amount:

1. ₹ 20 lakh

2.Nil as HO is a non-resident

3.₹ 5 lakh

4.8% of adjusted total income

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  1. John Miller & Co. of UK is maintaining and operating a branch in India for the sale of its garment products. The adjusted total income of the branch for the year prior to the charge of HO expenses of ₹ 20 lakh is ₹ 100 lakh. Indian branch intends to know the maximum amount of HO expenses as allowable during the year under the Act. Specify the amount:
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