Question
Corporation tax in India is levied on income of a company. Which one of the following does not include Corporation tax?
Answer: Option D
Answer: (d)Generally, the income of a company falls under any of the following 4 heads of income:Profits or gains from the businessIncome from property, whether it is housing, commercial, self-occupied or let-out. If the property is used in the company’s business operations, it does not fall under this head.Capital gainsIncome from other sources including winnings from lotteries, races and interest on securities.
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Answer: (d)Generally, the income of a company falls under any of the following 4 heads of income:Profits or gains from the businessIncome from property, whether it is housing, commercial, self-occupied or let-out. If the property is used in the company’s business operations, it does not fall under this head.Capital gainsIncome from other sources including winnings from lotteries, races and interest on securities.
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