UNDERSTANDING INDIAN INCOME TAX LAW

UNDERSTANDING INDIAN INCOME TAX LAW
Author: CA. Lavneet Relan
Publisher: CA. Lavneet Relan
Total Pages: 297
Release: 2015-05-08
Genre:
ISBN:
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This book explains basics of Indian Income tax law. The law that has its effect on each and every individual and entity in India. This book is for knowledge of common man. In this book simple and easy to understand languages is used, so that it could guide non-professionals also. Appropriate Tables, Charts and Diagrams etc are used to make this book more reader friendly. Easy to understand illustrations are given to explain complex topics. This book Explains following topics in detail: 1. Vision of This Book 2. Categorization of Income 3. Residential Status of Individuals and Tax Liability 4. Financial Year and Assessment Year Concept 5. Understanding Forms of Income Tax Returns 6. Salary Income 7. House Property Income 8. Agriculture income and its Taxation 9. Capital Gains and Exemptions 10. Income from Other Sources 11. Deductions from Income 12. Tds, Interest on Late Payment of Tax, Self Assessment Tax, Regular Assessment Tax 13. Clubbing of Income 14. Carry forward and set off of losses 15. Preparing Computation of Income 16. Due dates of Income Tax 17. Assessment, Intimation and Re-Assessment 18. Appeals in General Physical copy of the book is also available at pothi.com. Please give it a try.

The Income Tax Law of India

The Income Tax Law of India
Author: Shubham Sinha
Publisher: Createspace Independent Publishing Platform
Total Pages: 272
Release: 2015-11-04
Genre:
ISBN: 9781517014629
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This book is BARE ACT of Indian Law on Income Tax within Indian territories. It is the hardcore set of rules as exactly provided by Indian government authorities.The Income-tax Act, 1961 is the charging Statute of Income Tax in India. It provides for levy, administration, collection and recovery of Income Tax. Recently the Government of India has brought out a draft statute called the "Direct Taxes Code" intended to replace the Income Tax Act,1961 and the Wealth Tax Act, 1956. Public Commentary has been called for the Draft Bill. The redrafted bill is supposed to be made public soon. 1) Subject to the provisions of this Act, the total income of any previous year of a person who is a resident includes all income from whatever source derived which-(a) is received or is deemed to be received in India in such year by or on behalf of such person ; or(b) accrues or arises or is deemed to accrue or arise to him in India during such year ; or(c) accrues or arises to him outside India during such year :Provided that, in the case of a person not ordinarily resident in India within the meaning of sub-section (6) of section 6, the income which accrues or arises to him outside India shall not be so included unless it is derived from a business controlled in or a profession set up in India.(2) Subject to the provisions of this Act, the total income of any previous year of a person who is a non-resident includes all income from whatever source derived which-(a) is received or is deemed to be received in India in such year by or on behalf of such person ; or(b) accrues or arises or is deemed to accrue or arise to him in India during such year.Explanation 1.-Income accruing or arising outside India shall not be deemed to be received in India within the meaning of this section by reason only of the fact that it is taken into account in a balance sheet prepared in India.Explanation 2.-For the removal of doubts, it is hereby declared that income which has been included in the total income of a person on the basis that it has accrued or arisen or is deemed to have accrued or arisen to him shall not again be so included on the basis that it is received or deemed to be received by him in