How will you treat the following in the calculation of Domestic Income and National income of India? Give reasons. (a) Compensation of employees to the residents of Japan working in Indian embassy in Japan (b) Profits earned by Indian resident from his company in Singapore (c) Profits earned by Indian employees working in the US embassy in India
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i) Profit earned by a branch of foreign bank in India. (ii) Salaries of Indian employees working in embassy of Japan in India. ... (i) yes, it will be included in the Gross Domestic Product of India as profits are earned within the domestic territory of India.
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