📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      In accordance with Section 26 of the General Insurance

      Business (Nationalisation) Act, how is every acquiring company treated for the purposes of the Income-tax Act, 1961?
      A As a private company Correct Answer Incorrect Answer
      B As an Indian company Correct Answer Incorrect Answer
      C As a company in which the public are substantially interested Correct Answer Incorrect Answer
      D All a b & c Correct Answer Incorrect Answer
      E Both b & c Correct Answer Incorrect Answer

      Solution

      Section 26. Acquiring companies and income-tax:  For the purposes of the Income-tax Act, 1961, every acquiring company shall be deemed to be an Indian company and a company in which the public are substantially interested.

      Practice Next
      More Banking Related Laws Questions

      Relevant for Exams:

      ask-question