income tax query

Pls reffer Recner, the terms in which you have problem are very easly explain.

Income received in kind means not in cash but in form of some articles or other facilities.

Undivided India means before the date of Aug 47 when Pakistan n India were not divided.

I have not read the term past untaxed profits in residential status. could u tell where it is.

for other terms m trying to make some easy language. pls tell u understand the meaning of above 2

thanxx ashish for help me.I have understood the meaning which you explained.

  and ajit........ What is reconer?Write your on the spot.it would be very helpful for others

All the definitions with illustrations are provided in the books of Direct Taxes Law and Practice By Dr VK Singhania.

Indian company [Section 2(26)] - Two conditions should be satisfied so that a
company can be regarded as an Indian company -
(a) the company should have been formed and registered under any law relating to
companies which was or is in force in any part of India, and
(b) the registered office of the company should be in India.
The expression ‘Indian Company’, also includes:
(i) A corporation established by or under a Central, State or Provincial Act (like
Financial Corporation or a State Road Transport Corporation),
(ii) An institution or association or body which is declared by the Board to be a company
under section 2(17)(iv) provided its registered or principal office is in India.
(iii) A company registered under section 25 of the Companies Act without a commercial
or profit motive,
(iv) A company in liquidation. It is worth noting that, in such cases, the liquidator would
have all the obligations of principal officer of the company. But an assessment cannot be
made on a company after it has ceased to exist and has been struck off the register of
companies.

Domestic company - means an Indian company or any other company which, in
respect of its income liable to income-tax, has made the prescribed arrangements for the
declaration and payment of dividends (including dividends on preference shares) within
India, payable out of such income.

thanxxx for reply