Sunday, April 9, 2017

classification of companies

Direct Tax Lessons

  • Indian Company Sec 2(26)
  • Domestic Company Sec 2(22A)
  • Foreign Company

What is Indian Company
  1. Company registered in India under laws relating to companies
  2. Company formed and registered in state J&K and UT of Dada nagar Haveli

What is Domestic Company
  • Indian company which made prescribed arrangement for payment of equity and preference dividend in india

What is foreign company
  • A company that is not a domestic company, is a foreign company

Companies in which public are substantially interested (Widely held company)
  • Companies owned by Govt/RBI
  • Companies where at least 40% of shares held Govt/RBI
  • Listed companies
  • Sec 25 Companies
  • Mutual Benefit companies
  • Companies not having share capital declared by board as public are substantially interested
  • companies whose equity shares carrying not less than 51% of the voting power were throughout the relevant previous year held by one or more co-operative societies

Companies in which Public not Substantially Interested closely held company
  • Private Limited Company
  • Public Limited Company closely held by family group

CA N.Rajasekhar [M.Com, FCA, DISA (ICAI)]


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