Capital Gains Tax advise

 

The income-tax paid by domestic companies, and foreign companies on their income in is corporate income-tax (CIT).  Capital Gains Tax advise  The CIT is at a specific rate as prescribed by the income tax act subject to the changes in the rates in the union budget every year. A corporate is an entity that has a separate and independent legal entity from its shareholders. Domestic as well as foreign companies are liable to pay corporate tax under the Income-tax Act. While a domestic company is taxed on its universal income, a foreign company is only taxed on the income earned within i.e. is being accrued or received. Domestic company is one which is registered under the Companies Act and also includes the company registered in the foreign countries having control and management wholly situated in. A domestic company includes private as well as public companies. All businesses operating in  are required to file income tax return each year. In addition to filing income tax return, a business may also be required to file TDS return and pay advance tax to stay compliant under the Income Tax Act. Filings is largest tax services platform offering a range of services like incorporation, GST return filing, income tax filing and more.