MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Direct & Indirect Taxes

Companies pay...

Question

Companies pay Corporate Tax on their:

A

Investment

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

Production

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

Sales proceeds

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

Profits

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is D
Profits

Corporate taxes are levied on company’s profits.

Suggest Corrections

thumbs-up

3

Similar questions

Q. Companies pay corporate tax on the total sales of the year.

Q. The taxes on the profits of companies and corporates having businesses in India are called as corporate tax. Even foreign companies are charged tax on the income they earn in India.

The corporate tax rates for these companies are as follows:

Turnover	Indian companies	Foreign companies
Less than ₹50 crore	25%	40%
More than ₹50 crore	30%	40%

Identify the taxation system followed for the corporate tax.

Q. Select the correct one/ones about 'net income' of a corporate body - by using code given below:
1. It is the balance of a company's total income and its total expenditure.
2. The profit of a company after paying corporate tax.

Under which head the following items of a financial company will be shown :

(i) Dividend received (ii) Interest earned (iii) Profit on sale of fixed asset and (iv) Profit on sale of investments, and (v) Refund of Income Tax.

Q. Taxes levied on personal income, profits of the corporate, wealth and property is termed as ________ tax.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

The Tax System in India

ECONOMICS

Watch in App

explore_more_icon

Explore more

Direct & Indirect Taxes

Standard XII Economics

Join BYJU'S Learning Program

CrossIcon