INTERVIEW QUESTIONS TAX CORPORATE TAX DETAILS

Question: What is meant by a Corporate?

Answer: Any juristic person having a separate and independent legal entity from its shareholders is termed as a corporate. The income earned by a company is computed and assessed separately from the dividends that it offers to its shareholders. These dividends do not figure out in the tax calculation of the company but are assessed as part of the income of shareholder.

For the purpose of tax calculation, companies in India have been broadly divided into the following two categories.

Domestic Corporate:

Any company that is Indian is called as domestic company or if the company is foreign but the control and management is wholly situated in India then also it is termed as a domestic company. An Indian company means a company registered under the Companies Act 1956
Foreign Corporate:

Any foreign company is one that is not of Indian origin and has some part of control and management of affairs located outside India.

Any juristic person having a separate and independent legal entity from its shareholders is termed as a corporate. The income earned by a company is computed and assessed separately from the dividends that it offers to its shareholders. These dividends do not figure out in the tax calculation of the company but are assessed as part of the income of shareholder.

For the purpose of tax calculation, companies in India have been broadly divided into the following two categories.

Domestic Corporate:

Any company that is Indian is called as domestic company or if the company is foreign but the control and management is wholly situated in India then also it is termed as a domestic company. An Indian company means a company registered under the Companies Act 1956
Foreign Corporate:

Any foreign company is one that is not of Indian origin and has some part of control and management of affairs located outside India. Source: CoolInterview.com

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