Easy Office
LCI Learning

income tax on income of state govts

This query is : Resolved 
Profile Image

Profile Image

(Querist)
03 January 2010 is income i.e. surplus of state govts subject to income tax under income tax 1961?
please provide supporting evidences..avoid suggestions.
Profile Image

Aditya Maheshwari

Profile Image

Aditya Maheshwari (Expert)
03 January 2010 I dont think the state govts have a pan card or file a return. So their surplus is not subject to tax.
Profile Image

monish

Profile Image

monish (Querist)
03 January 2010 Please provide conclusive evident replies and avoid suggestions
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

Heera Nahariya

Profile Image

Heera Nahariya (Expert)
04 January 2010 Income tax is to be charged on income of a person.

under section 2(31) the definition doesn't covers State & Central Governments.

When any entity doesn't fall with in the ambit of the definition of person then question of imposing tax doesn't arise.
Profile Image

Murtaza I Bhagat

Profile Image

Murtaza I Bhagat (Expert)
04 January 2010 agree to heeraji
Profile Image

monish

Profile Image

monish (Querist)
04 January 2010 can govnt not be classified under trust
Profile Image

monish

Profile Image

monish (Querist)
04 January 2010 can govnt not be classified under trust
Profile Image

monish

Profile Image

monish (Querist)
06 January 2010 ok thanks
Upgrade to CAclubindia Pro. Subscribe Now!


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links