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The Correct answer is (D)
(1/3) A corporate tax is a tax levied on the profits of a company/firm, and is paid on a company’s taxable income. Corporate taxes are collected by the government as a source of income.
(1/3) A corporate tax is a tax levied on the profits of a company/firm, and is paid on a company’s taxable income. Corporate taxes are collected by the government as a source of income.
(2/3)These taxes are based on taxable income, after expenses have been deducted.
Corporation Tax is an appropriation out of profits from business, interest on securities and dividends of the company.
Corporation Tax is an appropriation out of profits from business, interest on securities and dividends of the company.
(3/3)However, it does not include the sale proceeds of assets, as they do not form the normal course of business on which the income is earned regularly.
Therefore, option (d) is the correct answer
Therefore, option (d) is the correct answer
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