Page 133 - DCOM508_CORPORATE_TAX_PLANNING

Corporate Tax Planning

Notes 7. When does a company need to pay MAT?

8. Write a note on calculation of book profi ts.
9. Explain tax on distributed profits of domestic companies in India.

10. Elucidate the provisions for treatment of tax on income or dividends received from a
VCC.

Answers: Self Assessment

1. Source and origin. 2. Deductible
3. Business losses 4. 30%

5. Fringe Benefit Tax 6. Capital expenditure
7. Zero tax companies 8. Minimum Alternate Tax (MAT)
9. Special Economic Zones (SEZ) 10. Book profi t
11. New tax credit scheme 12. True
13. False 14. True
15. False 16. True
17. Venture capital 18. VCU
19. fourteen days 20. Section 115-O

5.8 Further Readings

Books Ahuja, G. K. & Gupta, Ravi, Systematic Approach to Income Tax, Bharat Law
House.
Aggarwal, K., Direct Tax Planning and Management, Atlantic Publications.
Lakhotia, R.N., Income Tax Planning Handbook, Vision Books.
Singhania, V. K. & Singhania, Kapil, Direct Taxes law & Practice. Taxmann
Publications.
Srinivas E. A., Handbook of Corporate Tax Planning, Tata McGraw Hill.

Online links http://www.solveaccounting.com.au/Blog/tabid/62/EntryId/4/Calculating-
a-company-s-taxable-income.aspx
http://business.gov.in/taxation/computation_income.php
http://www.madaan.com/taxrates.htm
http://www.asiatradehub.com/india/tr13.asp
http://trak.in/india-tax/corporate-taxes-india/
http://business.gov.in/taxation/taxation_company.php
http://business.gov.in/taxation/different_taxes.php
http://www.accounting-n-taxation.com/Minimum-Alternate-Tax.html
http://seminarprojects.com/Thread-tax-on-distributed-profits-of-domestic-
companies
http://www.taxlawsonline.com/news/DTC/chap6/dtc108.asp

128 LOVELY PROFESSIONAL UNIVERSITY