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What happens in the following situation

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 September 2013 Dear all,
Please tell me, if Companies Act came into existence at 1956 and income tax act came into existence at year 1961, whether no tax were levied to company between the years from 1956 to 1961?
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Ashwani Narnoli

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Ashwani Narnoli (Expert)
21 September 2013 These were taxable according to provisions of previous acts
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
21 September 2013 there was income tax 1922 before 1961.
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