Table of Contents: Income tax simplified

Table of Contents:

Basic concept of income tax, Computation of income from house property, Computation of income from salaries, Computation of income from profits, Depreciation, development and other allowance & deduction. Computation of income from interest on securities, Computation of income under capital gains, Computation of income from other sources, Set off and carry forward of losses, Donations to funds and institutions, Deduction for computation of total income, Income, Capital and revenue, Previous year, accounting year etc. Methods of accounting, Assessee, Residence in India, Ambit of taxation on basis of residence, Heads of income, Procedure of assessment and appeal, Offences and penalties, Income tax authority