The Central Board of Direct Taxes (CBDT) has now issued final notification on 22 June 2018 dealing with different aspects of the computation of income of such foreign companies constituting Indian resident owing to its POEM, such as depreciation, carry forward and setoff of losses, foreign tax credit, difference in the tax year than that adopted by the foreign company.   Rakesh Nangia, Managing Partner and Neha Malhotra, Executive Director with inputs from Radhika Arora contributed an article on THE TAXING POEM  for Financial Chronicle. THE TAXING POEM