Income-tax is a multi-dimensional subject. It not only requires intellect to understand but also proper planning to undertake its effective study. In this backdrop, a text-book on income-tax for students has necessarily to be written in a simplistic language, concise size and should essentially be well structured. In addition, the book needs to explain the provisions of law in a step-by-step approach along with suitable illustrations, without resorting to paraphrasing of sections and legal jargon. The present work conforms to the aforesaid criteria. Students will find that each topic has been discussed with clarity, followed by point-wise recapitulation.
This book, which is designed to bridge the gap between theory and application, stands out distinctly from others on account of the following salient features:
The law stated in this book is as amended upto August 1, 2025.
The presentation of the subject is designed on “teach yourself” technique which enables the students to learn faster.
Each para (with a distinct number) starts with analytical discussion supported by well-thought out original problems. A unique style of illustrating all complex provisions has been adopted.
E-filing of income-tax return is discussed in Chapter 20. A few Case Studies have been prepared for students to generate e-income-tax return.
Readers’ views, comments and criticism relating to the present work are most welcome.
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BASIC CONCEPTS THAT ONE MUST KNOW
RESIDENTIAL STATUS AND ITS EFFECT ON TAX INCIDENCE
3
INCOME THAT IS EXEMPT FROM TAX
4
INCOME UNDER THE HEAD “SALARIES” AND ITS COMPUTATION
5
INCOME UNDER THE HEAD “INCOME FROM HOUSE PROPERTY” AND ITS COMPUTATION
6
INCOME UNDER THE HEAD “PROFITS AND GAINS OF BUSINESS OR PROFESSION” AND ITS COMPUTATION
7
INCOME UNDER THE HEAD “CAPITAL GAINS” AND ITS COMPUTATION
8
INCOME UNDER THE HEAD “INCOME FROM OTHER SOURCES” AND ITS COMPUTATION
MEANING OF AGRICULTURAL INCOME AND ITS TAX TREATMENT 13
INDIVIDUALS - COMPUTATION OF TAXABLE INCOME
14
HINDU UNDIVIDED FAMILIES - COMPUTATION OF TAXABLE INCOME
15
FIRMS AND ASSOCIATIONS OF PERSONS - COMPUTATION OF TAXABLE INCOME 16 RETURN OF INCOME
DEDUCTION AND COLLECTION OF TAX AT SOURCE
e-FILING OF INCOME-TAX RETURN
