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Tuesday, July 28, 2020 | History

6 edition of The taxation of corporate income in India found in the catalog.

The taxation of corporate income in India

S. Ambirajan

The taxation of corporate income in India

by S. Ambirajan

  • 48 Want to read
  • 30 Currently reading

Published by Asia Pub. House in New York .
Written in English

    Places:
  • India.
    • Subjects:
    • Corporations -- Taxation -- India

    • Edition Notes

      Statement[by] S. Ambirajan.
      Classifications
      LC ClassificationsLAW
      The Physical Object
      Paginationxv, 315 p.
      Number of Pages315
      ID Numbers
      Open LibraryOL5944794M
      LC Control Number65016121
      OCLC/WorldCa664252

      Introduction: Agricultural income earned by a taxpayer in India is exempt under Section 10(1) of the Income Tax Act, Agricultural income is defined under section 2(1A) of the Income-tax Act. As per section 2(1A), agricultural income generally means (a) Any rent or revenue derived from land which is situated in India and is used for agricultural purposes. Income Tax Department of India during last decade. Data has been collected from secondary sources which includes the various Finance Acts, Income Tax Act , Reports of CAG of India on Direct Taxes, websites of Income Tax Department, Ministry of Finance, pertains to the period from to It is found that.

        See and discover other items: corporate income tax, corporate tax, federal income taxation, state tax guides, tax books, federal income tax books There's a problem loading this menu right now. Learn more about Amazon s: 5. Taxation Overview in India The tax structure in India is divided into direct and indirect taxes. While direct taxes are levied on taxable income earned by individuals and corporate entities, the burden to deposit taxes is on the assessees themselves.

      Taxation of foreign income in India 5 min read. the Indian company pays corporate income tax on its taxable income and also pays dividend distribution tax on the dividends distributed to the. Buy Online Income Tax books, GST books, Company Law, International Taxation, CA & CS books & Scanners, NIISM/IIBF books, Income Tax/GST/TDS Software, GST DVD, Online Journals, Tax magazine, Books from Taxmann’s bookstore.


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The taxation of corporate income in India by S. Ambirajan Download PDF EPUB FB2

A resident company is taxed on its worldwide income. A non-resident company is taxed only on income that is received in India, or that accrues or arises, or is deemed to accrue or arise, in India. The corporate income-tax (CIT) rate applicable to an Indian company and a foreign company for the tax year /21 is as follows.

In India, taxes on income, wealth, Capital Gains are some of the most significant taxes paid by customers. Corporate houses too, be it domestic or foreign, are required to pay taxes in order to run their business.

One of the may taxes that corporates are required to pay to the Indian government is corporate tax or company tax. Book Review Indian Corporate Taxation Vinaykumar D Lall The Taxation of Corporate Income in India by S Ambirajan.

Asia Publishing House, Pp xv + price Rs THE author set out "to study the evolution, working, effects and future prospects of the taxation of corporations in India".

In the process he examines whether the Indian cor­. Corporate Tax in India - Planning & Budget   Revenues from corporate taxes is one of the main sources of income for the Government of India.

Vide a very important announcement, the government made a surprising lowering in the corporate tax. Income tax in India is governed by Entry 82 of the Union List of the Seventh Schedule to the Constitution of India, empowering the central government to tax non-agricultural income; agricultural income is defined in Section 10(1) of the Income-tax Act, Income-tax law consists of the act, Income Tax RulesNotifications and Circulars issued by the Central Board of Direct Taxes.

A domestic corporate entity with a turnover upto Rs. Crore, pays a flat rate of 25% corporate tax. For a particular financial year, if the total revenue earned by a company exceeds Rs.

1 crore, then a surcharge corporate tax of 5% is levied on such a corporation. The major tax enactment in India is the Income Tax Act, passed by the Parliament, which imposes a tax on the income of persons.

This Act imposes a tax on income. For small CCPCs, the net federal tax rate is levied on active business income above CAD ,; a federal rate of 9% applies to the first CADof active business income.

Investment income (other than most dividends) of CCPCs is subject to the federal rate of 28%, in addition to a refundable federal tax of 10⅔%, for a total federal. The award for the best book depends on the user of the book, there will be two categories of readers: 1. Professionals 2.

Student’s Objectivity of a book is different for both the users so let me take them one by one and elaborate.

Professiona. A guide for Corporate Taxation and the nuances of different corporate tax rates in India. Learn about company’s income determination & tax liabilities.

Corporate tax is levied on the income earned by the companies, whether domestic or foreign. The Income Tax Act, is liable for charging corporate tax in India. any business connection6 in India, or through or from any property in India, or 1 As substituted by the Finance Act,w.e.f., 2 A period of 12 months commencing on the 1st day of April 3 As defined in Explanation to s 6(3) of the ITA 4 Defined in s 6 of the ITA 5 Income is said to have its source in India if it is “income which.

Income Tax Law And Practice. This book covers the following topics: Income Tax in India, Income Exempt from Income Tax, Income from Salaries, Income from House Property, Income from Business or Profession, Capital Gains, Income from Other Sources, Clubbing of Incomes, Deduction from Gross Total Income, Computation of Tax Liability of Individuals.

Taxable income – Tax is imposed on a company’s profits, which consist of business/trading income, passive income and capital gains. Income resulting from the indirect transfer of assets located in India is included. Normal business expenses, as well as other specified items, may be deducted in computing taxable income.

Created Date: 1/2/ PM. Relative to other developing countries, the fact that India’s income tax comprises 5% of its GDP is due to the fact nearly % of the population is exposed to income taxation.

India faces more difficulties in proliferating its income tax than a country like China, who subjects 20% of its population, because there is an emphatically low.

Print book: EnglishView all editions and formats: Rating: (not yet rated) 0 with reviews - Be the first. Subjects: Corporations -- Taxation -- India. Corporations -- Taxation. India. More like this: Similar Items. The corporate income tax raised $ billion in fiscalaccounting for percent of total federal revenue, down from 9 percent in Taxable corporate profits are equal to a corporation’s receipts less allowable deductions—including the cost of goods sold, wages and other employee compensation, interest, most other taxes.

And corporate tax is one of the direct taxes that are levied on corporate income or profit. Both taxes are levied and collected by the centre under Article and entry 82 and 85 of the union list Ist. Seventh Schedule of the constitution of India. (India- The constitution of India.) Income tax is most important of all direct taxes and with the.

India’s No 1 book on taxation is designed to sharpen problem solving skills of taxation enthusiasts. The wide range of topics chosen links tax to every theory part discussed.

The objective of this book is to challenge intelligent students gifted in taxation, with extra ordinary s: 7. Taxation structure plays an important role in country's development. India has a well-developed tax structure. The power to levy taxes and duties is distributed among the three tiers of Government.Additional Physical Format: Online version: Ambirajan, S.

Taxation of corporate income in India. New York, Asia Pub. House [, ©] (OCoLC)  Indian Tax Structure. Tax structure in India is a three tier federal structure. The central government, state governments, and local municipal bodies make up this structure. Article of the constitution states that “No tax shall be levied or collected except by the authority of law”.