Complete with practical examples, India’s top taxation expert briefs you on more than 100 items of tax-free incomes and investments which result in tax-free income. All these are described under appropriate headings arranged in an alphabetical order, and with suitable cross references. Tax-free income and investment opportunities covered include: agricultural income, casual income, share of profit of a partner from a partnership firm, dividends on shares and units of mutual funds, interest on relief bonds, moneys received from the lic, interest income of nris on deposit in Non-Resident (External) Account and various types of allowances granted to an employee like the conveyance allowance, uniform allowance, d.a., t.a., etc. Also covered is the tax-free income of new industrial undertakings established in Free Trade Zones and 100% eous which enjoy a 5 to 10-year complete tax holiday. Then there are various types of incomes which enjoy a tax-free treatment in the form of deductions, such as interest on bank deposits, 5-year complete tax holiday to new industrial undertakings in certain backward States, Union Territories and districts, export profits, etc. Also included are the many specific items of income held to be as tax-free by the decisions of the Supreme Court of India and various High Courts. All these and many more have been described in this book which will serve you as a ready-reckoner for tax planning and reducing your overall tax burden.
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.
There are no reviews yet.