Description
Book Corporation How To Handle Income Tax Problems by Narayan Jain and Dilip Loyalka
Containing FAQs & practical problems and its solutions in easy to follow language with guidelines on art of handling the tax matters and ideas for tax-planning under various heads of income together with Tax rates, Depreciation rates, Cost Inflation Index, Rates of Gold and Silver. Also incorporating Salient features of Prohibition of Benami Transactions Act, 1988 after Amendment in 2016; new definitioin of business connection and significant economic presence u/s 9, amended provisions of sec. 10 and 11 to make provisions of sec. 40A(3) and 40A(3A) mutatis mutandis for computing income of certain institutions, trusts and societies, reintroduction of Standard Deduction from Salary u/s 16(ia), newly inserted provision of sec. 40A(13) imposing Restrictions on allowing marked to market loss or other expected loss except as allowable u/s 36(1)(xviii), expenditure u/s 35AD, changes in sec. 43(1), 43(5), taxation in case of foreign exchange fluctuatio u/s 43AA, presumptive income of transport operators u/s 44AE, concession for taxing capital gains u/s 43CA/ 50Cin case of transfer of immovable property, amendment in capital gains provisions u/s 47, 48, 49, 54EC, 55, amendments in sec. 56,79 and deductions under chapter VIA, new sec. 112A for tax on LTCG in certain cases, special rate of tax of 30% in place of 15% on distributed profits of doemestic companies u/s 115-O, MAT, AMT, new provisions of E assessment inserted u/s 143(3A), provisions of sec. 145A for valuation of Inventory Income computation and disclosure standards,TDS and TCS; Penalties, and other amendments made by the Finance Act, 2018. Also referring to decisions of various Courts and ITAT and recent Circulars & Notifications issued by CBDT.