Pre incorporation income

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shubham agarwall

shubham agarwall (Querist)
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09 May 2016 what is treatment of pre incorporation income? Explain with detail only about income & also refer section.

Amol S Joglekar

Amol S Joglekar (Expert)
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09 May 2016 Are you talking of Pvt company or Public company? In case of public company, since the company can NOT start business unless it gets commencement of business certificate, the question of pre incorporation income becomes myth/redundant. In the case of pvt company, the same may be ratified subject to however the resolution in the first meeting.

Rupesh Jain

Rupesh Jain (Expert)
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09 May 2016 Without incorporation how can you earn income ?

shubham agarwall

shubham agarwall (Querist)
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10 May 2016 i want to know about tax treatment & plz explain with sec. ref.

Amol S Joglekar

Amol S Joglekar (Expert)
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10 May 2016 you please give the instance of such income.
See, the point is revenue can tax it either under AOP....the one who has really earned it OR Co, if ratified in due course. Remember the point that in both the cases tax rate is same.

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