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Can a foreign company and its subsidiary in India have a common Indian resident Director ? If yes, is there any cons regarding taxation etc.

Any company registered in India must have at least one resident Indian as a direcors.

Yes, a subsidiary in India can have a director (Resident Indian or otherwise) common with the parent entity. 

In case, the Indian entity is either billing or making a payment to the parent entity, Transfer Pricing (along with its compliances) wil...

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