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Description
• This concise commentary on the income-tax law is the first attempt of its kind and
has been written in a unique, simple, easy to understand language that enables a
quicker grasp for the reader.
• Each topic is discussed in a lucid manner and is explained through examples and
illustrations.
• The entire text is arranged in a logical sequence and contains all important judicial
pronouncements as well as the circulars, notifications, etc., which are issued by the
Department from time to time. The latest important case laws as well as the
Departmental instructions issued upto 1st September, 2008 have been included.
• Another unique feature of this book is that it provides very useful tips for tax
planning which will be of immediate use for the readers.
• The book will be found useful by chartered accountants, company secretaries,
advocates, tax consultants, income-tax practitioners, officials of the revenue
department, corporate tax executives and by any and everyone dealing with
direct taxes
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Contents
Chapter 1. Introduction [Sections 1 to 4]
Chapter 2. Scope of Total Income and Residential Status [Sections 5 to 9]
Chapter 3. Incomes which do not form part of Total Income [Sections 10, 10A,
10B and 11 to 13A]
Chapter 4. Heads of Income [Section 14] and Income under the Head "Salaries"
[Sections 15 to 17]
Chapter 5. Income under the Head "Income from House Property" [Sections 22 to 27]
Chapter 6. Income under the Head "Profits and Gains of Business or Profession"
[Sections 28 to 44D]
Chapter 7. Income under the Head "Capital Gains" [Sections 45 to 55A]
Chapter 8. Income under the Head "Income from Other Sources" [Sections 56 to 59]
Chapter 9. Income of Other Persons Included in Assessee's Total Income (Clubbing
of Income) [Sections 60 to 65]
Chapter 10. Set off or Carry forward and Set off of Losses [Sections 70 to 80]
Chapter 11. Deductions to be made in Computing Total Income [Sections 80A to
80U (Chapter VIA)]
Chapter 12. Agricultural Income and Its Tax Treatment [Sections 2(1 A) and 10(1)]
Chapter 13. Rebates and Reliefs of Income-tax [Sections 87 and 89]
Chapter 14. Assessment of Individuals
Chapter 15. Assessment of Hindu Undivided Family
Chapter 16. Assessment of Firms
Chapter 17. Assessment of Association of Persons
Chapter 18. Assessment of Co-operative Societies
Chapter 19. Assessment of Trusts [Sections 11 to 13]
Chapter 20. Taxation of Mutual Associations
Chapter 21. Assessment of Companies
Chapter 22. Tonnage Tax Scheme
Chapter 23. Fringe Benefit Tax [Chapter XII-H - Sections 115W to115WL]
Chapter 24. Taxation of Non-Residents [Chapter XII and XIIA of Income-tax Act]
Chapter 25. Return of Income and Procedure of Assessment [Sections 139 to 154]
Chapter 26. Search, Seizure & Survey and Special Procedure for Assessment of
Search Cases [Sections 132, 132A, 132B, 133A, 153A to 153C and
Sections 158B to 158BH]
Chapter 27. Deduction and Collection of Tax at Source [Sections 190 to 206CA i. e.
Chapter XVIIA & B]
Chapter 28. Advance Payment of Tax [Sections 207-211, 218 & 219]
Chapter 29. Interest Payable by/to Assessee [Sections 201(1 A), 220(2), 234A, 234B,
234C & 244A]
Chapter 30. Refunds [Sections 237 to 241 & 245]
Chapter 31. Settlement of Cases [Sections 245A to 245L]
Chapter 32. Advance Rulings [Sections 245N to 245V]
Chapter 33. Appeals and Revision [Sections 246 to 264]
Chapter 34. Penalties & Prosecutions
Chapter 35. Income Tax Authorities [Sections 116 to 119]
Chapter 36. Business Reorganisation
Chapter 37. Double Taxation Relief [Sections 90 to 91]
Chapter 38. Concepts of tax-planning and specific management decisions
Chapter 39. Special Provisions Relating to Avoidance of Tax [Chapter X, Sections
92 & 93]
Chapter 40. Liability in Special Cases [Chapter XV, Sections 159 to 179]
Chapter 41. Collection and Recovery of Tax [Section 220 to 230A]
Chapter 42. Miscellaneous Provisions
Chapter 43. Wealth Tax
Appendix 1 - Rates of Taxation
Appendix 2 - Depreciation Table
Appendix 3 - Table of rates at which depreciation is admissible for power generation business
Appendix 4 - The National Tax Tribunal Act, 2005
Appendix 5 - Electronic Furnishing of Return of Income Scheme, 2007
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Author Details
Dr. Girish Ahuja did his graduation and post-graduation from Shri Rom College of Commerce and was a position holder. He got his Ph.D. from Family of Management Studies, University of Delhi. He has been teaching Direct Taxes to students at various levels for more than 35 years. He is a Fellow of the Institute of Chartered Accountants of India (ICAI) and was placed in the merit list of both Intermediate and Final Examinations of the Institute. He is a senior faculty member of Shri Ram College of Commerce (Delhi University) and also visiting faculty member of the Institute of Chartered Accountants of India, Institute of Company Secretaries of India (ICSI) and various management institutes. He had been nominated by the Government to the Central Council of the Institute of Company Secretaries of India for two terms. He is a member of Fiscal Law Committee of ICAI and Editorial Board of ICSI. He is also on the Board of Directors of many companies and has a vast and rich experience in the field of finance and taxation.
Dr. Ravi Gupta did his graduation and post-graduation from Shri Ram College of Commerce. Thereafter, he did LL.B. from Delhi University and MBA (Finance) from Faculty of Management Studies, Delhi. He has been awarded a Ph.D. degree in International Finance by the Delhi University. He is n faculty member at Shri Ram College of Commerce (Delhi University) and also has vast practical experience in handling tax matters of trade and industry- He has been a visiting faculty member at The Indian Law Institute. The Institute of Company Secretaries of India, MFC' (South Campus Delhi University), MD1 and various other Management Institutes.
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