It is in the best financial interests of every taxpayer to have a clear grasp, of the key essentials of income tax, even if you have back-up help of a CA or tax expert. Here is must-know expert guidance on computing your income and taxes – and trouble-free assessment of your tax returns. In simple, clear style, Mr. Lakhotia provides you expert guidance on: How to compute your taxable income from different sources: salary, house property, business, profession, etc, Which incomes are taxed – and which are not, All the tax-saving exemptions, rebates, and reliefs you are eligible for,
Deductions you can avail of when computing your total taxable income, How different taxpayers are assessed: Individuals, HUFs, Firms, Companies, Non-Residents, etc, Procedure for filing an appeal when you think you have been assessed wrongly, Penalties and prosecution: when these apply and how to avoid them, Procedure of tax refunds – and much, much more.
ABOUT THE AUTHOR R N. Lakhotia
Ram Niwas Lakhotia is one of India's top authorities on taxation and practices as an advocate and tax consultant, specialising in practical tax planning and the drafting of trusts and wills.Starting with a brilliant academic career - Mr Lakhotia was ranked first in both his graduate and post graduate examinations in Commerce - he joined the Indian Revenue Service as an Income Tax Officer, Class I. He again stood first in the whole country in the Income Tax Officers' Examination. Later, he quit the revenue service and launched into a highly successful taxation practice. Spreading the message of tax planning far and wide, Mr Lakhotia has addressed thousands of lecture meetings, symposia, and seminars on tax planning. He has written dozens of books on income tax, which have run to over 470 editions. He has been interviewed over BBC, London, A.I.R., Hong Kong Radio, Zee News TV, Star News TV and Doordarshan. He was conferred an Honorary Degree of Doctor of Taxation by Giani Zail Singh, a former President of India. He is the Founder-President of Income Taxpayers Association and Rajasthani Academy, and the Principal of Lakhotia College of Taxation and Management. He is the President of Indian Vegetarian Congress (Northern Zone), Delhi. Also interested in the spread of practical spirituality and vegetarianism, Mr. Lakhotia has written books on the subject of life improvement, and edits a monthly journal, Excellent Living. In the field of social service, he has constructed a big Dharamshala (rest house) which is used by families of the patients of JLN Hospital, Ajmer. He has served as the District Governor of Lions Clubs International, and was awarded the prestigious Udyog Rattan Award, Samaj Gaurav Award, Samaj Ratna Award and Manav Seva Puraskar.
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