Income Tax: Law & Practice

Income Tax has been thoroughly revised and updated to present the law as applicable for the assessment year 2012-2013. This book sharpens one s understanding of an otherwise complex subject and helps in clarifying concepts. Various provisions of law have been analyzed and explained in a well structured and reader-friendly manner. The emphasis of this book is on the simplification of the complexities of income-tax to impart much needed conceptual clarity on intricate law points. The book is intended to serve as a standard text for students pursuing B.Com, B.Com. (Hons.) courses. Salient Features: Provides an updated and comprehensive study of income tax laws. Highlights prospective amendments, using the icon A.Y. 2013-2014 with shaded background. Uses tables for conceptual clarity. Includes numerous examples illustrating law points in a simple manner. Exhaustive practicals provide a thorough overview of taxing provisions. Examination review further adds to its utility. Contents Scheme of Income Tax / Income Exempt from Tax / Residential Status and Scope of Total Income / 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 Families / 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 / Appendices.