Income Tax and Central Sales Tax Law and Practice

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Income Tax and Central Sales Tax presents an updated and comprehensive study of income tax laws. The concept of graded and comprehensive problems will bridge the gap between theory and practice and will lay a firm foundation to develop and sharpen the understanding of law. A chapter on ‘Value Added Tax’, popularly known as “VAT" is also included.FeaturesSimple to understand and easy to retain. Flow charts and tables sharpen understanding. Graded and point-wise examples to bridge the gap between theory and practice. Self-explanatory approach in numerical problems. Numerous examples to illustrate intricate law points. Carefully worked-out Practical Problems at the end of each chapter. Graded and comprehensive trial exercises at the end of each chapter. Problems from professional examinations solved in accordance with the latest law provisions and included in the Examination Review section at the end of the book. ContentsPart I: Income Tax Scheme of Income Tax Concept of Income Incomes 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 Rebate from Income Tax Assessment of Individual Assessment of Hindu Undivided Family Assessment of Partnership Firms Assessment of Association of Persons Assessment of Companies Assessment of Cooperative Societies Income-Tax Authorities Procedure for Assessment Penalties, Offences and Prosecutions Appeals and Revision Deduction of Tax at Source Advance Paymentof Tax Interest Payable Collection and Recovery of Tax Refunds Part II: Central Sales Tax Scheme of Central Sales Tax Basis of Charge Registration Tax Liability Levy and Collection of Tax (Sec. 9 and 9A) Liability in Special Cases Settlement of Dispute Value-Added Tax (VAT)