Foreign company under Section 2(23A) is defined as:
ACompany with 100% foreign shareholding
BAny company incorporated outside India
CA company which is not a domestic company
DCompany controlled from outside India
Answer & Solution
Correct answer: C. A company which is not a domestic company
1. Section 2(23A) defines 'foreign company' as a company which is not a domestic company.
2. Section 2(22A) defines 'domestic company' as Indian company or other company that has made prescribed arrangements for dividend declaration/payment in India.
3. Place of incorporation alone is not the test.
_Source: ICAI BoS CA Final Paper 7, Ch 1 "Basic Concepts"_
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