CONTENTS OVERVIEW; RESEARCH METHODOLOGY; Objective and Significance of the Study; Data Collection; Mode of citation; Scope and Limitations; II. CONCEPT OF 'COMPANY' UNDER INCOME TAX ACT, 1961; Definition of 'Company'; Company in which public are substantially interested; Other kinds of Companies under Income tax Act, 1961; III.TAXATION OF 'COMPANIES' IN INDIA Historical background of corporate taxation; Residence of a company; Rate of income tax on companies and other taxable entities; Computation of total income; III. ISSUES RELATING TO TAXING OF COMPANIES UNDER THE INCOME TAX ACT, 1961 1. Minimum Alternate Tax; 2. Corporate veil and corporate tax under Income tax Act -34 Concept of corporate personality; statutory recognition of lifting of corporate veil; Judicial recognition of lifting of corporate veil; 3. Progression in Corporate Taxation in India; 4. Issues in Merger and Amalgamation of Companies The Scheme under Income Tax Act, 1961; a. Capital gains; b. Carry forward and set off; Demergers; 5. Fringe Benefit Tax; IV. DOUBLE TAXATION AVOIDANCE AGREEMENTS AND INCOME TAX ACT, 1961; Bilateral relief under the Income tax Act, 1961; Unilateral relief under Income tax Act, 1961; Steps for calculating relief under this section; Transfer Pricing under Income tax Act, 1961; V. CONCLUSION AND SUGGESTIONS; BIBLIOGRAPHY; List of Books referred; List of Articles referred; List of Websites referred; ANNEXURE- I; LIST OF CIRCULARS REFERRED; LIST OF CASES REFERRED; LIST OF STATUTES AND RULES REFERRED; LIST OF COMMITTEE REPORTS REFERRED; LIST OF ABBREVIATIONS