Direct tax book pdf 2017-18

Ay enter your mobile number or email address below and well send you a link to download the free kindle app. But, major relief to taxpayers who are bearing the brunt of demonetisation has been given in this budget. Pdf to study the planning of individual income tax and tax saving instruments of individual income tax. The collection of fy 2017 18 exhibits that revised revenue target has been achieved to the extent of around 98%. It is assumed that tax rates for the assessment years 201617 and 201718 will be. The table of content or a quick excerpt on the book has been provided on the book page. Study of the income tax, heads of income, tax audit, indirect tax, assessment of tax payable. By law, taxpayers must file an income tax return annually to determine their tax obligations. In addition, a thai resident who is 65 years of age or older is entitled to personal income tax exemption on income up to an. It is 3 years under graduation course that provides you wide career opportunities in accounts, commerce, management fields. Free tax books download ebooks online textbooks tutorials. Heres a stepbystep guide if you are someone who files your itr on your own and need a little handholding to sail through the process, look no further. The corporate income tax cit rate in afghanistan is 20% of the. Text of remaining provisions of allied acts referred to in income tax act 1.

Tax rates and allowances for 201718 the basic, higher and additional rates of tax applicable remain unchanged. This book is useful for ca, ipcc group 1 students and for b. Interest accrued on promissory notes executed for arrears of rent. Study of the incometax, heads of income, tax audit, indirect tax, assessment of tax payable. Revenue realisation from direct and indirect taxes.

His stay in india during earlier years is as follows. The international tax handbook, 6th edition iberglobal. The following changes have been implemented in the direct tax code for the year 201516. A comparison of collection 2017 18 visavis target rs. Changes made in direct tax law by union budget 201718. This rule is, however, subject to some exceptions 3. Worldwide tax summaries corporate taxes 201718 pwc. Income tax department time series data financial year 200001 to 2017 18. Income tax refers to the tax you pay directly to the government depending on your income or profit for companieslocal authorities. The tax collected during this interval stands at 1. Rates of income tax in respect of income liable to tax for the assessment year 2017 18. However, from ay 201819 fy 2017 18, the rebate is restricted to people having total income upto rs. Tax rates for the assessment years 201920 and 202021.

From fy 201718 ay 1819, the surcharge for individuals is applicable as follows. The regressive nature o the taxation system should be curbed 8. If, however, the book value of the assets of the company or entity on. To gain knowledge about the direct tax laws in force for the relevant previous year and. The publisher of the book is a wolters kluwer business. X will be required to pay tax on the income earned during py 201718. However this rate is not available if nonsavings income broadly earnings, pensions, trading pro. Objective of this book is to explain the income tax administration in india. Pc can maintain books of accounts on calendar year basis, but tax will be. Sale of agricultural land on 1st april, 1970 is an example of transfer of capital asset. Download objective type questions of direct tax pdf.

Difference between direct taxes and indirect taxes illustrative list. For 201718 some individuals qualify for a 0% starting rate of tax on savings income up to. Deduction in respect of profits and gains from the business of publication of books. Documentation and records if location, location, location is the most important rule in real estate, then documentation, documentation, documentation is by far the most important rule in. Saving and planning habits of the people should be encouraged 12. Income tax know about govt of indias income tax guide, rules, tax efiling online. Direct and indirect taxes statistical year book india 2017. Provisions relating to direct taxes income tax department.

Changes made in direct tax law by union budget 2017 18 a. In respect of income of all categories of assessees liable to tax for the assessment year 2017 18, the rates of income tax have been specified in part i of the first schedule to the bill. Strategic plan to achieve the huge revenue target fy201516 212. Conformity between financial book keeping and tax reporting is. Income tax in india, income exempt from income tax, income from salaries, income from house property, income from business or profession, capital gains, income from other sources, clubbing of incomes, deduction from gross total income, computation of tax liability of individuals. This incometax ready reckoner is based on the directtax laws as amended by the finance no. Payer of tax not sufferer of tax whereas sufferer of tax is not paying directly to the government i.

Robust income tax collections has led to an increase of 15% in net direct tax collections during the five month period between april and august, for the financial year 201617. On the domestic side, initiating structural reforms notably, the passage of. This book deals with the law of taxation or income tax laws. Starting from the next financial year, the corporate tax rate is proposed to be reduced to 25%. Government can not make happy all of the people all the time. There will be no change in the basic exemption limit and tax rates of individuals. Development of modern, serviceoriented compliance direct tax system. Net direct tax collections for fy17 aprilaug rises 15% to rs. Maintenance of books of accounts for individuals and huf. The income tax department never asks for your pin numbers, passwords or similar access information for credit cards, banks or other financial accounts. Rates fixed by finance act tax rates are fixed by the annual finance. All publication national board of revenue nbr, bangladesh.

Tax rate of assessment year income of previous year is chargeable to tax in the next following assessment year at the tax rates applicable for the assessment year. For the companies, the account books are prescribed as per the. Rates of incometax, surcharge and additional surcharge. Income taxes are a source of revenue for governments. Basic income tax 2016 2017, published by cali elangdell. The income tax act, 1961 is the charging statute of income tax in india. Income tax return statistics assessment year 201819. You can also share if you have any valuable information to us. All information in this book, unless otherwise stated, is up to date as of 1. The john lydgate quote very well applies to the union budget 2017 18. Here you will find a spectrum of articles you can use to file your itr with ease. Income tax department pan allotment statistics up to 31. Download income tax laws text book pdf for 3rd year students.

The book direct tax ready reckoner ay2016 17 2017 18 4 ed is available at. Accountancy, cost account, statistics, economics, and law are the main subjects. Section page contents division one 111 income tax act, 1961 page u arrangement of sections i3 u text of the income tax act, 1961 as amended by the finance act, 2011 1. William kratzke, basic income tax 20162017, published by cali elangdell press. Then you can start reading kindle books on your smartphone, tablet, or computer no kindle device required. The budget 2017 18 has been marked by historic economic policy developments. You can check the latest availability by visiting cakart books. The tax rebate which was available for all assesses with total income upto rs. Income tax department time series data financial year 200001 to 201819. Changes made in direct tax proposals of union budget 201516.