Direct Tax Law & Practice

Description

Contents at a Glance
(See also Detailed Contents)
Preface to the Fifteenth Edition ………………………………………………………………………………………………. iv
Detailed Contents …………………………………………………………………………………………………………………. vii
Sectionwise Referencer …………………………………………………………………………………………………………… lv
Analysis of Amendments brought in by The Finance Act, 2023 …………………………………………………. lxvii
Important Recent Judicial Decisions …………………………………………………………………………………. CL.cxli
Table of Cases ………………………………………………………………………………………………………………….. ccxci
GIST of CBDT Circulars & Government Notifications of Past Eleven Years …………………. GC.cccxxxvii
Part I Direct Tax Laws
Chapter 1 Introduction [Sections 1 to 4] ……………………………………………………………………………….. 3
Chapter 2 Scope of Total Income and Residential Status [Sections 5 to 9B] …………………………….. 37
Chapter 3 Incomes which do not Form Part of Total Income [Sections 10, 10AA and 11 to 13B] …………………………………………………………………………………………………………….. 77
Chapter 4 Computation of Total Income [Sections 14 & 14A] & Income under the Head “Salaries” [Sections 15 to 17] ……………………………………………………………………………. 127
Chapter 5 Income under the Head “Income from House Property” [Sections 22 to 27] …………………………………………………………………………………………… 197
Chapter 6 Income under the Head “Profits and Gains of Business or Profession” [Sections 28 to 44DB] ………………………………………………………………………………………. 223
Chapter 7 Income under the Head “Capital Gains” [Sections 45 to 55A] ……………………………….. 448
Chapter 8 Income under the Head “Income from Other Sources” [Sections 56 to 59] …………………………………………………………………………………………… 625
Chapter 9 Income of Other Persons Included in Assessee’s Total Income (Clubbing of Income) [Sections 60 to 65] ………………………………………………………………………………. 660
Chapter 10 Unexplained Cash Credits, Investments, Money, etc [Sections 68 to 69D] ……………… 675
Chapter 12 Deductions to be Made in Computing Total Income [Sections 80A to 80U (Chapter VIA)] ………………………………………………………………… 726
Chapter 13 Agricultural Income and Its Tax Treatment [Sections 2(1A) and 10(1)] ………………….. 795
Chapter 14 Assessment of Individuals ………………………………………………………………………………… 806
Chapter 15 Assessment of Hindu Undivided Family …………………………………………………………….. 828
Chapter 16 Assessment of Firms (including LLP) ………………………………………………………………… 842
Chapter 17 Assessment of Association of Persons ………………………………………………………………… 862
Chapter 18 Assessment of Co-operative Societies ………………………………………………………………… 871
Chapter 19 Assessment of Trusts [Sections 11 to 13] ……………………………………………………………. 881
Chapter 20 Taxation of Mutual Associations ……………………………………………………………………….. 954
Chapter 21 Assessment of Companies ………………………………………………………………………………… 963
vi Direct Taxes—Law & Practice
Chapter 22 Tonnage Tax Scheme ……………………………………………………………………………………… 1011
Chapter 23 Return of Income and Procedure of Assessment [Sections 139 to 154] ………………… 1027
Chapter 24 Search, Seizure & Survey and Special Procedure for Assessment of Search Cases [Sections 132, 132A, 132B, 133A, 153A to 153D] …………………………………… 1115
Chapter 25 Deduction and Collection of Tax at Source [Sections 190 to 206CA, i.e., Chapters XVIIA, XVIIB & XVIIBB] ……………………………………………………………….. 1132
Chapter 26 Advance Payment of Tax [Sections 207-211, 218 & 219] ……………………………………. 1271
Chapter 27 Interest and Fee Payable [Sections 201(1A), 220(2), 234A, 234B, 234C, 234D, 234E, 234F, 234G,234H & 244A] ………………………………………………………….. 1280
Chapter 28 Refunds [Sections 237 to 241 & 245] ……………………………………………………………….. 1302
Chapter 29 Appeals and Revision [Sections 246 to 264] …………………………………………………….. 1308
Chapter 30 Penalties and Prosecutions ………………………………………………………………………………. 1350
Chapter 31 Dispute Resolution Committee in Certain Cases [Section 245MA] ……………………… 1392
Chapter 32 Income Tax Authorities [Sections 116 to 119] …………………………………………………. 1398
Chapter 33 Business Reorganisation …………………………………………………………………………………. 1416
Chapter 34 Concepts of Tax-planning and Specific Management Decisions ………………………….. 1445
Chapter 35 Specified Domestic Transactions and Provision of Transfer Pricing Applicable to Such Transactions [Chapter X, Sections 92BA, 92, 92C, 92CA, 92CB 92D, 92E & 92F] …………………………………………………………………………………………………… 1451
Chapter 36 Liability in Special Cases [Chapter XV, Sections 159 to 179] ……………………………… 1463
Chapter 37 Collection and Recovery of Tax [Sections 220 to 232] ……………………………………….. 1484
Chapter 38 Miscellaneous Provisions ……………………………………………………………………………….. 1495
Part II International Taxation
Chapter 1 Taxation of Non-Residents with Special Reference to Chapters XII and XIIA of Income-tax Act ………………………………………………………………………………………….. 1551
Chapter 2 Double Taxation Relief [Sections 90, 90A and 91] …………………………………………….. 1593
Chapter 3 Special Provisions Relating to Avoidance of Tax and General Anti-Avoidance Rules (GAAR) (Transfer Pricing Provisions for International Transactions and Other Provisions relating to Avoidance of Tax) [Chapter X, Sections 92 to 92F, 93, 94A, 94B and 95 to 102] …………………………………………………………………….. 1623
Chapter 4 Advance Rulings [Sections 245N to 245V] ……………………………………………………….. 1686
Chapter 5 Equalisation Levy [Chapter VIII of the Finance Act, 2016] ………………………………… 1702
Chapter 6 Overview of Model tax Conventions ………………………………………………………………… 1714
Chapter 7 Application and Interpretation of Tax Treaties …………………………………………………… 1757
Chapter 8 Fundamentals of Base Erosion and Profit Shifting ……………………………………………… 1772

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