Computation of Gross Total Income of a company.pptx
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The document outlines the computation of gross total income for companies, focusing on the assessment of their business income. It differentiates between Indian and foreign companies based on their residential status and management control. Additionally, it specifies various income heads including house property, profit and gain from business, capital gains, and income from other sources.
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Computation of Gross Total Income of a company.pptx
- 1. Computation of Gross Total Income of a company
- 3. • Scheme of taxing business income of companies, • a) Residential status of a company • Sec.2(26)Indian company Co. • (registered under the companies act of India • Always resident in India • Foreign company sec. 2(23A) • (not registered under the companies act of India) • Part of mgt. and control is in India • If whole of its Mgt. and control is out side India
- 4. • Computation of Gross Total Income of a company • 1.Income under the head of “House property” • 2.Income under the head of “profit and gain of business or profession” • 3.Income under the head of “Capital Gain” • 4.Income under the head of “Income from other sources”
- 5. • Computation of Gross Total Income of a company • 1.Income under the head of “House property” • 2.Income under the head of “profit and gain of business or profession” • 3.Income under the head of “Capital Gain” • 4.Income under the head of “Income from other sources”