Containing FAQ & practical problems and its solutions in easy to follow language with guidelines on art of handling 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 Prohibitions of Benami Transactions Act, 1988 after Amendment in 2016; amended provisions relating to Restrictions on Cash Transaction in section 40A(3)/(3A), expenditure u/s 35AD, payment for purchase of assets u/s 43, Restrictions on cash receipt of Rs. 2 Lakh or more u/s 269 ST, exempted income, amended provisions of sec. 44AA, 44AB, presumptive income u/s 44 AD and 44ADA, new provisions of sec. 45(5A) for taxing capital gains in case of development agreement, amendment in capital gains provisions u/s 47, 48, 49, 50CA, 54EC, new base year for cost inflation index u/s 55, amended provisions of income from other source u/s 56, Loss under the head Income from House Property, carry forward and set off of losses; Donations u/s 80G, Transfer Pricing, special rate of tax u/s 115BBG, MAT, Survey, Search &Seizure; Quoting of Aadhar No. u/s 139AA, assessment and time limits, TDS and TCS; Fee for late filing of returns u/s 234F, withholding of refund u/s 241A, Settlement, Authority for advance Ruling, Penalties, and other amendments made by the Finance Act , 2017. Also referring to decisions of various Court and ITAT and recent Circulars & Notifications issued by CBDT.
|Author||Narayan Jain & Dilip Loyalka|