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Tax Publishers Practice Specific Income Tax Commentary Set of 2 Vols by Manoj Gupta AY 2023-24 and 2024-25


Tax Publishers Practice Specific Income Tax Commentary Set of 2 Vols by Manoj Gupta AY 2023-24 and 2024-25

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Tax Publishers Practice Specific Income Tax Commentary Set of 2 Vols by Manoj Gupta AY 2023-24 and 2024-25

Tax Publishers Practice Specific Income Tax Commentary Set of 2 Vols by Manoj Gupta AY 2023-24 and 2024-25

Income-tax law is one of the most complex yet scientifically arranged laws in our country. It has, in the recent past become more dynamic with frequent changes coming up. Earlier, the Government used to take time to respond to the challenges posed by aggressive tax plannings and tax strategies employed by the assessees. Further, there remained loopholes, which were exploited by smart and risk taking taxpayers to their advantage. But now a days, the Government comes in the field at the earliest possible opportunity and takes no time in amending the law so as to plug any such tax planning possibilities. As a consequence, the need arises for some concise Practice Specific Commentary on Income Tax which may serve as a handy reference for income-tax consultants as distinguished from the one meant to serve dual purpose as students’ text book as well as consultation book for the professionals.

Frankly speaking, a book for consultants has to start practically from the point where student publication ends. This publication is the first ever dream that has come true with two manageable volumes facility written originally by country’s most experienced authors and specifically meant for income-tax practitioners. It is presented and arranged in such a manner that all the requirements, which the practitioners come across in their day-to-day practice, are covered in reasonable details, so much so that there hardly remains need for any other reference book.

This commentary is a hybrid of subjectwise and sectionwise arrangement. We have not incorporated text of the respective sections for the same could not be accommodated in the present format but the readers will not mind this, for they will invariably be having their own Income Tax Act with them. The total text is divided in conveniently and very aptly chosen 42 Parts comprising 390 chapters. The entire spectrum of income-tax law as well as practice is addressed to and presented in a scientific and conveniently approachable manner. These parts are so named that they are fully indicative and expressive of the contents thereunder.

In addition to above, detailed practice notes are provided with regard to recent developments in taxation like Equalisation Levy and Black Money Law.

This book, contains the entire law of income-tax fully updated in the wake of the Finance Act, 2023 alongwith references of the related Rules, Circulars and Notifications wherever felt necessary. We have presented the complex law of the Income Tax Act in a lucid manner by subdividing the same in a large number of small paras, preceded by appropriate para headings and sub-headings to make it a user friendly product. The entire subject matter is supported by a good number of carefully select case law including the latest ones. Illustrations are sprinkled all over the text of the book. The illustrations are easy to understand and wherever required carry computation both as per new regime and old regime, thus providing a comparative picture before the busy tax professionals. As such, this book comes as a combination of law and practice relating to Income Tax. We are sure that this will be of utmost help to the user to quickly arrive at the right solution to the problem in hand and that too supported by case law and enable him to discharge his duty as a tax professional more effectively and purposefully.

The contents of this book are updated fully upto the recently enacted Finance Act, 2023. Further, the subject matter is filled with recent case law even as late as upto June, 2023 in addition to rules and circulars. Just released statutory happenings post the book went under production have been incorporated in Stop Press section of the book thus making it a complete up-to-date two volume treatise.

The scheme of the book is generally sectionwise except for minor deviations here and there so as to make the presentation more meaningful and to present all relevant material at one place. Therefore, volume 1 contains discussion upto section 69D and volume 2 contains discussion related to rest of sections of the Income Tax Act and also Equalisation Levy and Black Money Law. However, certain matters are clubbed at the relevant place like section 40(b) which is discussed elaborately in the Part Taxation of Partnership Firms and LLPs, and this part is accommodated in volume 2. Detailed index of sections and rules discussed in the book has been given in volume 1 of the book.

Authors having written books, running into several editions, on all income-tax law subjects along with the biggest ever 10 Mega Volumes Commentary set, are making an attempt in this two volume treatise referring to the most appropriate and latest law and case law. We believe that our this effort will be welcomed by one and all, even more than our numerous other publications in their library.

15th JULY, 2023