09 May 2016
Are you talking of Pvt company or Public company? In case of public company, since the company can NOT start business unless it gets commencement of business certificate, the question of pre incorporation income becomes myth/redundant. In the case of pvt company, the same may be ratified subject to however the resolution in the first meeting.
10 May 2016
you please give the instance of such income. See, the point is revenue can tax it either under AOP....the one who has really earned it OR Co, if ratified in due course. Remember the point that in both the cases tax rate is same.
CAclubindia
