Budgeting and Fiscal policy

Indian Economy

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Corporation tax in India is levied on income of a company. Which one of the following does not include Corporation tax?

Profit from business

Sale proceeds of assets

Interest on securities

Capital gain

Explanation:

3rd option is incorrect.
A corporate tax is a levy placed on the profit of a firm to raise taxes. After operating earnings is calculated by deducting expenses including the cost of goods sold (COGS) and depreciation from revenues, enacted tax rates are applied to generate a legal obligation the business owes the government.

By: Abhipedia

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