Tax Glossary Definition
A company assesse is a taxpayer that is registered under the Companies Act and is liable to pay income tax on the profits earned during a financial year. It includes both domestic companies (incorporated in India) and foreign companies (incorporated outside India but earning income in India). Such companies are required to file their return of income in Form ITR-6, except those claiming exemption under Section 11.
Example: TCS Ltd, a company registered under the Companies Act, is a company assesse and files its Income Tax Return in Form ITR-6.
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