1. Company Taxation" [ Assessments of 'Companies']

Corporate sector is the most widely used form of business Organisation particularly for medium and large scale business. Under corporate sector, a business is carried on by floating a company duly registered with appropriate authority.


Corporate taxation refers to taxation of companies (as defined under Income Tax Act, 1961) and is a major source of revenue to the Government. Under Income Tax Act, 1961, a company is liable to pay tax on its income at a flat rate (just as partnership firm) without any basic exemption limit as applicable to an individual or FIUF.


Corporate Tax

The tax collected from companies (as defined under the Income Tax Act, 1961) is called ‘Company Tax’ or ‘Corporate tax’. It is interesting to note that the proceeds of corporate tax are retained by the Central Government and are not shared with state governments.


More Topics..on Assessment @ Company
Company Taxation : Assessments of 'Companies'
Important Definitions : Assessments of 'Companies'
Types Of Companies : Assessments of 'Companies'
Residential Status Of A Company [Section 6(4)] : Assessments of 'Companies'
Incidence Of Tax—Scope Of Total Income : Assessments of 'Companies'
Types of incomes : Assessments of 'Companies'
Set off and Carry Forward of Losses of Companies : Assessments of 'Companies'
Carry Forward of Losses : Assessments of 'Companies'
Provisions for Losses Of Companies: Assessments of 'Companies'
Carry Forward & Set-Off Losses Of Certain Companies [Section 79]
Deductions Out Of Gross Total Income : Assessments of 'Companies'
Payment Of Tax By Certain Companies Or Minimum Alternate Tax (MAT)
Calculation of Book Profits [Explanation to Sec. 115JB(2)] : Assessments of 'Companies'
Explanation of Certain Items of Statutory Additions : Assessments of 'Companies'
Treatment of Certain Statutory Deductions : Assessments of 'Companies'
Dividend Tax—Special Provisions Relating To Tax On Distributed Profits Of Domestic Companies
Credit of Tax paid under MAT [Section 115JAA(1A)] : Assessments of 'Companies'
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