(6)  Every  corporation,  joint-stock  company,  assbciation,  and
insurance  company,  organized,  authorized,  or  existing  under
the  laws  of  any  foreign  country,  taxable  upon  its  net  income
accruing   from   business   transacted   and    capital   invested
within  the  United  States,  during  the  preceding  tax  year
(p.  103).
(c)  As  to  corporation  in  receiver's  hands,  see  Receivers  (p.  113).
Exceptions:  No  return  is  required  of:

(a)  Income  of  a  corporation  exempted  from  the  tax  (pp.  81,

103)  but  see  Construction,  below.
(6)  Any   portion    of    the    premium    deposits    paid    back    or
credited  by   a   life   insurance   company  to  policy  holders
(pp.  94,  96).
(c)  Note: — The  act  does  not  provide,  as  in  the  case  of  an  in-
dividual, that  no  return  need  be  made  by  a  corporation  of


108  FEDERAL  INCOME  TAX  LAW

or  before  the  thirtieth  day  of  June:  Provided,  That  every
corporation,  joint-stock  company  or  association,  and
insurance  company,  computing  taxes  upon  the  income  of
the  fiscal  year  which  it  may  designate  in  the  manner

Returns,  as  applicable  to  corporations — Continued

any  part  of  its  income  whereof  return  and  deduction  have
been  made  at  the  source.
Contents  of  return:

(a)  By  a  domestic  corporation:
A  statement  under  oath  or  affirmation  of  its  president,  vice-
president,  or  other  principal  officer,  and  treasurer  or  assistant
treasurer,  showing  the  amoimt  of:

(1)  Total  outstandihg  paid-up  capita!  stock,  or,  if  no  capital
stock,  capital  employed  in  business  at  the  close  of  the  year:

(2)  Bonded  and  other  indebtedness  at  close  of  year:

(3)  Gross  income  during  year  from  all  sources:

(4)  Ordinary  and  necessary  expenses  paid  out  of  earnings  in
maintenance  and  operation  of  business  and  properties.
