Main Highlights of Finance Act, 2021 1. Income Tax- An Introduction, 2. Important Definations, 3. Assessment on Agricultural Income, 4. Exemptes Income, 5. Residence and Tax Liability, 6. Income from Salaries, 7. Income From Salaries (Retirement and Retrenchment), 8. Income From House Property, 9. Depreciation, 10. Profit and ganis of Business or profession, 11.capital Gains, 12. Income From Other Sources, 13. Income tax Authorities, 14. Clubbing of income and Aggregation of Income, 15. Set-off and Carry Forward of Losses, 16. Deduction From Gross Total Income, 17. Assesment of Individulas (Computation of Total Income), 18. Computation of Tax Liability of Individuals, 19. Deduction of Taxes at Sources, 20. Procedure of Assessment, 21. Penalties, Offenecs and Prossecutions, 22. Appeal and Revison, 23. Tax - Planning, 24. Recovery and Refunds of Taxs, 25. Advance Payment of Tax, 26. Assessment of Hindu Undivided Family and Computation of Tax Liability, 27. Assessment of Firm and Association of Persons and Computation of tax Liability, Rebate and Relief in Tax Supreme Court Leading Cases Provisomns and Procedure of Filing the Return of Income and e-Filing of Income Tax and TDS Returns.
Main Highlights of Finance Act, 2021 1. Income Tax- An Introduction, 2. Important Definations, 3. Assessment on Agricultural Income, 4. Exemptes Income, 5. Residence and Tax Liability, 6. Income from Salaries, 7. Income From Salaries (Retirement and Retrenchment), 8. Income From House Property, 9. Depreciation, 10. Profit and ganis of Business or profession, 11.capital Gains, 12. Income From Other Sources, 13. Income tax Authorities, 14. Clubbing of income and Aggregation of Income, 15. Set-off and Carry Forward of Losses, 16. Deduction From Gross Total Income, 17. Assesment of Individulas (Computation of Total Income), 18. Computation of Tax Liability of Individuals, 19. Deduction of Taxes at Sources, 20. Procedure of Assessment, 21. Penalties, Offenecs and Prossecutions, 22. Appeal and Revison, 23. Tax - Planning, 24. Recovery and Refunds of Taxs, 25. Advance Payment of Tax, 26. Assessment of Hindu Undivided Family and Computation of Tax Liability, 27. Assessment of Firm and Association of Persons and Computation of tax Liability, Rebate and Relief in Tax Supreme Court Leading Cases Provisomns and Procedure of Filing the Return of Income and e-Filing of Income Tax and TDS Returns.
Direct Taxes Law & Practice is a comprehensive and authoritative commentary on direct tax law, recognized for over two decades as a trusted resource for tax professionals. This professional edition is designed to explain the complexities of direct tax law and equip practitioners to apply these provisions effectively in real-world scenarios. The book is essential for those who need to understand the intricacies of the law. It is tailored for experienced tax practitioners, chartered accountants, legal professionals, tax officers, and others; this book is particularly beneficial for those involved in the practice of Income-tax, International Tax, Transfer Pricing, and other areas of direct tax. It provides a thorough and up-to-date resource that is both practical and analytical. The compendious and complex nature of direct tax law presents significant challenges for practitioners who must understand the theoretical aspects and apply these laws in practice. This book is invaluable in providing: • Familiarity with the key provisions of direct taxes • Awareness of the nature, scope, and implications of these provisions • Up-to-date Knowledge of how statutory provisions have been interpreted by various courts, ensuring that practitioners are well-equipped with the latest legal perspectives The Present Publication is the Latest Edition for Assessment Years 2024-25 & 2025-26, authored by Dr Vinod K. Singhania & Dr Kapil Singhania, incorporating all the amendments made by the Finance (No. 2) Act 2024. The salient features of this book are as follows: • [Thoroughly Revised] The text has been updated and revised to enhance readability, ensuring that complex topics are presented in a user-friendly manner, making it an essential companion for practitioners who require quick, reliable information • [Lucid & Precise Explanations] The treatment of each topic is clear, to the point, and painstakingly arranged in numbered paragraphs and sub-paragraphs. This format enhances readability, making it easier for practitioners to understand the content. The commentary also provides practical application advice, providing illustrations and examples that clarify how legal principles work in practice • [Comprehensive Coverage] The book provides an exhaustive analysis of all relevant provisions of the Income-tax Act, supported by the latest judicial pronouncements, circulars, notifications, and rules. Over 600 illustrations supplement the theoretical discussions, offering practical examples that help clarify complex issues, making the study of direct taxes simpler and more approachable • [Integrated Analyses] This edition integrates the analyses from various sources, including: o Income-tax Act, 1961 o Income-tax Rules, 1962 o Frequently asked questions for complex provisions o Section-wise Gist of Relevant Circulars, Clarifications and Notifications issued from January 2016 to June 2024 o Section-wise Digest of all Landmark Rulings by the Apex Court and High Courts from 2016 to June 2024 • [Tax Planning Guidance] Strategic tax planning hints are provided throughout the book, indicating where tax planning can be effectively implemented to optimize tax liabilities • [Latest Amendments & Judicial Interpretations] The book includes all the latest circulars, notifications, amendments, and case laws, ensuring that practitioners are up-to-date with recent legal developments. It highlights recent citations of court rulings, providing a comprehensive view of the law's current state • [User-Friendly Navigation] Equipped with a detailed alphabetic subject index and a list of cases, this book allows practitioners to quickly find the relevant discussion or ruling. The section-wise gist of relevant circulars and notifications further enhances its utility as a reference tool • [Bestseller Legacy] As part of Taxmann's renowned bestseller series, this book has consistently been the top choice for professionals seeking reliable and up-to-date tax commentary • [Zero Error Commitment] Adhering to Taxmann's rigorous Six Sigma approach, this edition strives to meet the highest standards of accuracy, ensuring a 'Zero Error' benchmark in its commentary
Main Highlights of Finace Act, 2022 1. Income Tax - An Introduction, 2. Important Definition, 3. Assessment on Agricultural Income, 4. Exempted Incomes, 5. Residence and Tax Liability, 6. Income From Salaries, 7. Income From Salaries (Retirement and Retrenchement, 8. Income From House Peroperty, 9. Depreciation,10. Profits and Gains of business or Prefession, 11. Capital Gains, 12. Income From Other Sources, 13. Income Tax Authorities, 14. Clubbing of Income and Aggergation of income, 15. Set - off and Carry Forward of Losses, 16. Deductions From gross Total Income, 17. Assessment of Individuals (Computation of Total Income), 18. Computation of Tax Liability of Individuals, 19. Tax Deduction at Source, 20. Assessment Procedure, 21. Penalties, Offences and Prosecutions, 22. Appeal and Revison, 23. Tax Planning, 24. Recovery and Refund of tax, 25. Advance Payment of Tax, 26. Assessment of Hindu Undivided Family (HUF), 27. Assessment of Firm and Association of Persons, New Tax Regine Rebate and Relief in Tax GST - Concept, Registrarion and Taxation Mechanism Supreme Court Leadibg Cases Provision and Precedure of filling the Return of Income and e-Filing of Income tax and TDS Returns,
1..Important Definitions 2. Assessment on Agricultural Income, 3. Exempted Incomes, 4.Residence and Tax Liability 5. Income from Salaries 6. Income from Salaries (Retirement and Retrenchment) 7. Income from House Property 8. Depreciation 9. Profits and Gains of Business or Profession 10. Capital Gains 11. Income from Other Sources 12. Set-off and Carry Forward of Losses 13. Deductions from Gross Total Income 14. Assessment of Individuals 15. Computation of Tax Liability of Individuals, .16. Deduction of Tax at Source 18. Advance Payment of Tax , 19. Assessment of Hindu Undivided Family and Computations of tax liability, 20. Assessment of Firm and Association of Persons and Computation of Tax Liability, 21.Assessment of campanies, 22.Assessment of Co-Opreative Socirties, 23. Tax Planning for New Business, Capital and Revenue Expenditure Receipts Rebate and Relief in Tax
The salient features of the present edition are: All the Problems and Solutions have been thoroughly revised in the light of up-to-date amendments in Income tax Law and Rules for Assessment Year 2020-21. Almost all numerical questions given at the end of the chapters of the authors’ other publications on Income-tax (viz., Income-tax Law and Accounts, Aaykar Vidhan evam Lekhe, Law and Practice of Income-tax) have been solved in this book and the number printed within brackets at the end of the questions in other publications is the problem number of this book. The selection and sequence of the questions are well planned and systematic so as to cover all ticklish points within a reasonable number of questions. Wherever needed, detailed explanatory notes have been given at the end of solutions. Candidates preparing for C.A., Company Secretaries, Cost and Works Accountants, and Income-tax Departmental Examinations, will, particularly, find the book very useful. It will also be useful for candidates preparing for B.Com. and M.Com. Examinations of various Indian Universities.
Largest Selling Book since 1964 and over the last 56 years of its existence, the book has established a reputation for itself as the most definitive work on the subject of income tax. Incorporating the provisions of the Finance Act, 2019; the Finance (No. 2) Act, 2019; the Taxation Laws (Amendment) Act, 2019 and the Finance Act, 2020 as applicable to Assessment Year 2020-21. Provisions of the Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020 dated 31.3.2020 have been incorporated in the book. In the chapter of Deduction of Tax at Source and Collection of Tax at Source new reduced rates by 25% w.e.f. 14.5.2020 have been included. A simplified, systematic approach to the understanding of a complex subject written in a unique, simple and easy to understand language. Each topic, after a theoretical exposition, is followed by illustrations to facilitate the students to master the practical application of Income Tax Law. User-friendly examination-oriented style facilitating easy comprehension of each topic. Solved Illustrations and Questions for exercise are largest in number in comparison to other books on income tax. Unsurpassed for over 56 years. The book is trusted and relied upon for accuracy and reliability. Mistakeless printing on paper of superior quality at moderate price. Questions from latest Examination Papers of various universities have been included in the revised edition of the book. At the end of each chapter, Short Answer, Objective Type and Short Numerical Questions have been added with answers. A unique feature of the revised edition is that Section-wise Index has been incorporated.
This easy-to-read text covers the entire gamut of direct and indirect taxes. The first eight chapters deal with direct taxes and generation of income from different sources. The last five chapters focus on different forms of indirect taxes. This text lucidly explains the acts, rules, sections, laws of direct and indirect taxes with a view to integrating the relevance of these laws with tax planning. The text fosters a clear understanding of the principles relating to computation of taxable income under each head of income. It covers different types of excise duties, methods of valuation for customs, types of transactions under the Central Sales Tax Act, variants of VAT and different methods of computation of VAT and service tax for management and professional services. A number of solved Illustrations at the end of each chapter are provided for easy comprehension of the subject. These along with chapter-end questions consisting of short answer questions, long answer questions and exercises, enhance its value as a text. This text is intended for the undergraduate students of management, commerce and law (BBA, BCom and BL/LLB). Students pursuing professional courses such as CA, BCS (Bachelor of Corporate Secretaryship) and the aspirants of Civil Services Examinations will also find the text immensely useful.
