Direct Taxation

I am very much delighted to write the foreword for this textbook titled “Direct Taxation” could possibly be described as one stop centre for all your questions and answers regarding the current position of the income tax law and practices in India. It is a comprehensive analysis of all concepts, principles, practices and perspectives arising in the direct taxation on natural and legal persons. This makes it essential reading for anyone with the aspiration of understanding taxation as a student, teacher and practitioner.

The textbook is structured with a view to enabling a proper understanding of the philosophy and principles of income tax practices and procedure. It then goes on to explain both legal and economic concepts that underlie in the tax laws and practices, touching virtually on all areas of taxation, heads of income, taxable income, tax deductions, tax liability etc. with solved practical problems. It is also valuable in providing reading material in the areas of tax management; tax planning, tax evasion, TDS, advance payment of tax, return of income, filling of income tax etc.

1. Income Tax Act: Definitions and Concepts

2. Income from Salaries

3. Income from House Property, Capital Gain and Other Sources

4. Income Under the Head Profit and Gains of Business or Profession

5. Deductions to be Made in Computing Total Income