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No. CBSE/DIR/ACID./2020/Date: 03.12.2020 Circular No.: Acad88/2020All Heads of Schools Affiliated to CBSE SUBJECT: CBSE EXPRESSION SERIES ON ART AND CULTURE Art and Culture are essential aspects
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CIRC stands for 'Corporate Income Reporting Certificate', which is a document used by corporations to report income and relevant financial information to tax authorities.
Typically, corporations that generate income and are subject to taxation are required to file the CIRC. This includes both domestic and foreign corporations operating within a jurisdiction.
To fill out the CIRC, corporations need to provide accurate financial statements, details of income, deductions, and any other required information as specified in the filing guidelines.
The purpose of the CIRC is to ensure proper reporting of corporate income for tax assessment and compliance purposes, enabling tax authorities to evaluate a corporation's tax liabilities.
The CIRC must include details such as total revenue, allowable deductions, tax credits, net income, and any other information mandated by tax regulations.
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