Practical Problems Solution In Income Tax 2021 22

1..Important Definitions 2. Assessment on Agricultural Income, 3. Exempted Incomes, 4.Residence and Tax Liability 5. Income from Salaries 6. Income from Salaries (Retirement and Retrenchment) 7. Income from House Property 8. Depreciation 9. Profits and Gains of Business or Profession 10. Capital Gains 11. Income from Other Sources 12. Set-off and Carry Forward of Losses 13. Deductions from Gross Total Income 14. Assessment of Individuals 15. Computation of Tax Liability of Individuals, .16. Deduction of Tax at Source 18. Advance Payment of Tax , 19. Assessment of Hindu Undivided Family and Computations of tax liability, 20. Assessment of Firm and Association of Persons and Computation of Tax Liability, 21.Assessment of campanies, 22.Assessment of Co-Opreative Socirties, 23. Tax Planning for New Business, Capital and Revenue Expenditure Receipts Rebate and Relief in Tax

Main Highlights of Finance Act, 2021 1. Income Tax–An Introduction , 2. Important Definitions 3. Assessment on Agricultural Income 4. Exempted Incomes 5. Residence and Tax Liability 6. Income from Salaries 7. Income from Salaries (Retirement and Retrenchment) 8. Income from House Property 9. Depreciationn 10. Profits and Gains of Business or Profession (Including : Special Provision for Computing Profits and Gain of Profession on Presumptive Basis) 11. Capital Gains 12. Income from Other Sources 13. Income Tax Authorities 14. Clubbing of Income and Aggregation of Income 15. Set-off and Carry Forward of Losses Deductions From Gross Total Income 17. Assessment of Individuals (Computation of Total Income) 18. Computation of Tax Liability of Individuals 19. Deduction of Tax at Source 20. Procedure of Assessment 21. Assessment of Firm and Association of Persons and Computation of Tax Liability Provisions and Procedure of Filing the Return of Income and e-Filing of Income Tax and TDS Returns l Supreme Court Leading Cases l GST–Concept, Registration and Taxation Mechanism l Rebate and Relief in Tax l Examination Papers

The salient features of the present edition are: All the Problems and Solutions have been thoroughly revised in the light of up-to-date amendments in Income tax Law and Rules for Assessment Year 2020-21. Almost all numerical questions given at the end of the chapters of the authors’ other publications on Income-tax (viz., Income-tax Law and Accounts, Aaykar Vidhan evam Lekhe, Law and Practice of Income-tax) have been solved in this book and the number printed within brackets at the end of the questions in other publications is the problem number of this book. The selection and sequence of the questions are well planned and systematic so as to cover all ticklish points within a reasonable number of questions. Wherever needed, detailed explanatory notes have been given at the end of solutions. Candidates preparing for C.A., Company Secretaries, Cost and Works Accountants, and Income-tax Departmental Examinations, will, particularly, find the book very useful. It will also be useful for candidates preparing for B.Com. and M.Com. Examinations of various Indian Universities.

The salient features of the present edition are: All the Problems and Solutions have been thoroughly revised in the light of up-to-date amendments in Income tax Law and Rules for Assessment Year 2022-23. Almost all numerical questions given at the end of the chapters of the authors’ other publications on Income-tax (viz., Income-tax Law and Accounts, Aaykar Vidhan evam Lekhe, Law and Practice of Income-tax) have been solved in this book and the number printed within brackets at the end of the questions in other publications is the problem number of this book. The selection and sequence of the questions are well planned and systematic so as to cover all ticklish points within a reasonable number of questions. Wherever needed, detailed explanatory notes have been given at the end of solutions. Candidates preparing for C.A., Company Secretaries, Cost and Works Accountants, and Income-tax Departmental Examinations, will, particularly, find the book very useful. It will also be useful for candidates preparing for B.Com. and M.Com. Examinations of various Indian Universities.

62nd Edition of the Book: Largest Selling Book since 1964 and over the last 57 years of its existence, the book has established a reputation for itself as the most definitive work on the subject of income tax. Even the last-minute changes in the law have been incorporated in this revised edition of the book and as such, it is the latest and most updated book on Income Tax for the Assessment Year 2021-22. Further, the amendments made by the Finance Act, 2020 and the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020, applicable for the Assessment Year 2021-22, have been incorporated in the book. In the chapter Preparation and Filing of Return of Income, details and new features of the new E-filing Website of the Income Tax Department launched on 7.6.2021 have been included. In the chapter on Deduction of Tax at Source and Collection of Tax at Source new rates have been included. Also, newly inserted sections 194P, 194Q, 206AB, and 206CCA of the Income Tax Act, applicable from 01 July 2021 have been included in the book. Relief Measures in new of Covid-19 vide CBDT Press Release dated 25th June 2021 have been included in the book. A simplified, systematic approach to the understanding of a complex subject written in a unique, simple, and easy to understand language. Each topic, after a theoretical exposition, is followed by illustrations to facilitate the students to master the practical application of Income Tax Law. User-friendly examination-oriented style facilitating easy comprehension of each topic. Solved Illustrations and Questions for exercise are the largest in number in comparison to other books on income tax. Unsurpassed for over 57 years. The book is trusted and relied upon for accuracy and reliability. Mistakeless printing on paper of superior quality at a moderate price. Questions from the latest Examination Papers of various universities have been included in the revised edition of the book. At the end of each chapter, Short Answer, Objective Type and Short Numerical Questions have been added with answers. A unique feature of the revised edition is that Section-wise Index has been incorporated.

The book ‘Solutions to Practical Problems in Income Tax’ is of utmost utility for the students of various courses. This book includes all the solutions to numericals and practical problems included in the related book. For the help of the students, the solutions of the book are simple, comprehensible and easily understandable.

Main Highlights of Finance Act, 2021 1. Income Tax- An Introduction, 2. Important Definations, 3. Assessment on Agricultural Income, 4. Exemptes Income, 5. Residence and Tax Liability, 6. Income from Salaries, 7. Income From Salaries (Retirement and Retrenchment), 8. Income From House Property, 9. Depreciation, 10. Profit and ganis of Business or profession, 11.capital Gains, 12. Income From Other Sources, 13. Income tax Authorities, 14. Clubbing of income and Aggregation of Income, 15. Set-off and Carry Forward of Losses, 16. Deduction From Gross Total Income, 17. Assesment of Individulas (Computation of Total Income), 18. Computation of Tax Liability of Individuals, 19. Deduction of Taxes at Sources, 20. Procedure of Assessment, 21. Penalties, Offenecs and Prossecutions, 22. Appeal and Revison, 23. Tax - Planning, 24. Recovery and Refunds of Taxs, 25. Advance Payment of Tax, 26. Assessment of Hindu Undivided Family and Computation of Tax Liability, 27. Assessment of Firm and Association of Persons and Computation of tax Liability, Rebate and Relief in Tax Supreme Court Leading Cases Provisomns and Procedure of Filing the Return of Income and e-Filing of Income Tax and TDS Returns.

Main Highlights of Finance Act, 2021 1. Income Tax- An Introduction, 2. Important Definations, 3. Assessment on Agricultural Income, 4. Exemptes Income, 5. Residence and Tax Liability, 6. Income from Salaries, 7. Income From Salaries (Retirement and Retrenchment), 8. Income From House Property, 9. Depreciation, 10. Profit and ganis of Business or profession, 11.capital Gains, 12. Income From Other Sources, 13. Income tax Authorities, 14. Clubbing of income and Aggregation of Income, 15. Set-off and Carry Forward of Losses, 16. Deduction From Gross Total Income, 17. Assesment of Individulas (Computation of Total Income), 18. Computation of Tax Liability of Individuals, 19. Deduction of Taxes at Sources, 20. Procedure of Assessment, 21. Penalties, Offenecs and Prossecutions, 22. Appeal and Revison, 23. Tax - Planning, 24. Recovery and Refunds of Taxs, 25. Advance Payment of Tax, 26. Assessment of Hindu Undivided Family and Computation of Tax Liability, 27. Assessment of Firm and Association of Persons and Computation of tax Liability, Rebate and Relief in Tax Supreme Court Leading Cases Provisomns and Procedure of Filing the Return of Income and e-Filing of Income Tax and TDS Returns.

1.Income Tax : An Introduction, 2. Important Definitions, 3. Assessment on Agricultural Income, 4. Exempted Incomes, 5. Residence and Tax Liability, 6. Income from Salaries, 7. Income from Salaries (Retirement and Retrenchment), 8. Income from House Property, 9. Depreciation, 10. Profits and Gains of Business or Profession, 11. Capital Gains, 12. Income from Other Sources, 13. Income Tax Authorities, 14. Clubbing of Income and Aggregation of Income, 15. Set-off and Carry Forward of Losses, 16. Deductions from Gross Total Income, 17. Assessment of Individuals (Computation of Total Income), 18. Computation of Tax Liability of Individuals, 19. Deduction of Tax at Source, 20. Procedure of Assessment. Rebate and Reief in Tax Provisions and Procedure of Filing the Return of Income and e-Filing of Income Tax and TDS Returns GSt- Concept, Registration and taxation Mechanism.

1. Income Tax : An Introduction, 2. Important Definitions, 3. Assessment on Agricultural Income, 4. Exempted Incomes, 5. Residence and Tax Liability, 6. Income from Salaries, 7. Income from Salaries (Retirement and Retrenchment), 8. Income from House Property, 9. Depreciation, 10 . Profits and Gains of Business or Profession, 11. Capital Gains, 12. Income from Other Sources, 13. Income Tax Authorities, 14. Clubbing of Income and Aggregation of Income, 15. Set-off and Carry Forward of Losses, 16. Deductions from Gross Total Income, 17. Assessment of Individuals (Computation of Total Income), 18. Computation of Tax Liability of Individuals, 19. Deduction of Tax at Source, 20. Procedure of Assessment, 21. Penalties, Offences and Prosecutions, 22. Appeal and Revision, 23. Tax-Planning, 24. Recovery and Refund of Tax, 25. Advance Payment of Tax. Provisions and Procedure of the Filing the Return of Income and e-Filing of Income Tax and TDS Returns, Rebate and Relief in Tax Examination Papers