Income Tax
Comprising the latest amended rules and circulars related to taxation, the second edition of Income Tax promises to be a definitive text for undergraduate students of commerce and management. Featuring graded and comprehensive problems, the book bridges the gap between theory and practice and lays a firm foundation to develop and sharpen the understanding of law. Its simple language and organized and structured presentation will help students gain a thorough understanding of the subject.
Table of Content
- Scheme of Income Tax
- Residential Status and Scope of Total Income
- Incomes Exempt from Tax
- Salaries
- Income from House Property
- Profits and Gains of Business or Profession
- Capital Gains
- Income from Other Sources
- Income of Other Persons Included in Assessee’s Total Income
- Aggregation of Income, Set Off and Carry Forward of Losses
- Deductions from Gross Total Income
- Agricultural Income and Tax Liability
- Assessment of Individual
- Assessment of Hindu Undivided Family
- Assessment of Partnership Firms
- Assessment of Association of Persons
- Assessment of Companies
- Assessment of Cooperative Societies
- Assessment of Charitable trusts
- Income-Tax Authorities
- Procedure for Assessment
- Penalties, Offences and Prosecutions
- Appeals and Revision
- Deduction of Tax at Source
- Advance Payment of Tax
- Interest Payable
- Collection and Recovery of Tax
- Refunds
Appendix 1 Rates of Depreciation During Assessment Year 2011–2012
Appendix 2 Rates of Depreciation (For Power Generating/Distributing Enterprises)
Appendix 3 Allowances Exempt from Tax
Appendix 4 Examination Review of Practical Problems
Appendix 5 Prospective Amendments
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Salient Features
- Updated text supported by new examples to illustrate intricate law points
- Increased number of unsolved problems for practice
- New questions from different university examinations
- Carefully worked-out practical problems at the end of each chapter
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