Indian Economy

Corporate tax in India is levied on income of a company. Which one of the following does not include Corporation tax?

  1. Sale proceed of assets
  2. Interest on securities
  3. Profit from business
  4. Capital gain

Answer

Corporation tax in India relates to taxation of companies. The income from following are liable for taxation:

  • Profit from business
  • Capital gains
  • Income from property
  • Income from interest on securities.

The correct option is A.