Body corporate u/s 2(17)

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..... d's Circular No.72 of 1971. In this connection, the following further points should be noted. 2(a) U/s. 2(17)(ii), any body corporate incorporated by or under the laws of a country outside India is to be treated as a company for any assessment year commencing on or after 1-4-71 and no declaration from the Board to that effect is required. b) A declaration by a general or special order of the B .....

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..... rom which the applicant-assessee has become liable to tax in India and the various sources of income. Sometimes, applications are made for declaration as a company only for a few specified assessment years. In such cases, it has to be ensured that the status of company sought only for some years is not used as a means of avoiding the payment of higher tax that would otherwise be payable for the ot .....

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..... ercised by it only in respect of the assessment year 1962-63 and the subsequent assessment years. A retrospective declaration as a company cannot be made u/s.2(17) of the I.T.Act in respect of any assessment year prior to the assessment year 1962-63. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanagement .....

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