Pre incorporation income
This query is : Resolved
shubham agarwall
(Querist)
09 May 2016
what is treatment of pre incorporation income? Explain with detail only about income & also refer section.
Amol S Joglekar
(Expert)
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
(Expert)
09 May 2016
Without incorporation how can you earn income ?
shubham agarwall
(Querist)
10 May 2016
i want to know about tax treatment & plz explain with sec. ref.
Amol S Joglekar
(Expert)
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.
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Reward for festival
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- ARCA LOGIN
- Import of Capital Machine
- TDS Return Statement Status
- Closer of business and itc of capital goods
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Capital gain on commercial property and investment in residential property
- Rectification under processing even after 6 months cpc portal
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
