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Taxation in Companies-Contents

Company - Introductions
1. Sec.2(26) : Definition of an Indian Company
2. Sec.2(23A) : Definition of a Foreigh Company
3. Definition of Domestic Company
4. Sec.2(18) : Companies of Substantial Interest to the Public
5. Residential Status of a Company
6. Minimum Alternate Tax (MMT)
  1. Introduction

  2. [Sec.115JB] : Special provision for payment of tax by certain companies (MAT)

  3. Computation of Book Profit ( Explanation 1)

  4. Analyzing Computation of Total Income and Book Profit

7. Amounts Expressly Allowed as Deductions U/s 30 to 37

[A]       Rent, Rates, Taxes, Repairs and Insurance of Building used for the purpose of  the  business.
[ B ]     Repairs & Insurance Of Plant, Machinery & Furniture
[ C ]     Depreciation
[ D ]     Insurance of Stock
[ E ]     Insurance Premium On The Health Of Employees
[ F ]      Bonus Or  Commission Paid To Employees
[ G ]     Interest Paid On Borrowed Capital For The Purpose Of Business Or Profession
[ H ]     Employer’s Contribution Towards Recognized Provident Fund Or An Approved Super Annuation Fund
[ I ]      Employer’s Contribution Paid Towards An Approved Gratuity Fund
[ J ]      Employee’s Contribution Towards Staff Welfare Scheme
[ K ]     Bad Debts
[ L ]     Family Planning Expenditure Incurred By Company
[ M ]    Banking Cash Transaction Tasx (BCTT)
[ N ]     General Deduction
[ O ]     Is Business Loss Deducible
[ P ]     Penalty Paid For Any Breach Of Law

8. Sec.40A : Amounts Expressly Disallowed as Deduction
9. Sec.35 : Expenditure on Scientific Research
10. Sec.35D : Amortization of Certain Preliminary Expenses

11. Restriction to Deductions [ Sec. 40 to 43B]

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