Incorporation of private limited company

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mahesh (Querist)
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25 November 2016 hie,
planning to start a private limited company . if i start a company by raising capital do i need to pay tax for that as the financial year was closing with in three months or can i get some time for paying the tax . can some one help me on that

thanking u

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 November 2016 No need to pay any tax on capital raised.

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CA ALOK KUMAR

CA ALOK KUMAR (Expert)
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25 November 2016 Income tax is always payable on your Income. If your company earn profit from its business, then only it would be taxable. Merely due to raising capital will not be taxable in the hands of company.

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