JohnmCross,
It is a little more complicated!
The fact that you will be providing managerial services through a non India resident company for periods (presumably) of more than 90 days a year, means that your company may be treated as having a permanent establishment in India.
The consequences of this is that any profits attributable to the PE, are taxable fully in India.
The alternative position is that you personally will treated as an employee of a foreign employer and subject to India employment tax on any salary paid. This could be useful to you provided you ensure you become and remain non-UK resident by virtue of taking up a full time contract of employment abroad.
Two other points to note: It is likely there will be compliance issues to attend to in both countries. And, India witholds tax from payments to UK resident companies where they represent technical or management consultancy services.
If you need help structuring this contract please let me know. Kindest regards,
John S King
Chartered Tax Adviser
www.taxation-advice.com