Taxation of Salaried Persons Individuals and HUFs

For F.Y. 2021-2022 / A.Y. 2022-2023 
As Amended by the Finance Act, 2021
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Description
The overwhelming response to the earlier editions of the book "Taxation of Salaried Persons, Individuals & HUFs" has emboldened us to bring out this edition. The scope of the book has been enlarged to make it more comprehensive and useful for the taxpayers. This book incorporates all the major changes made by the Finance Act, 2018 and is the latest and most upto date book on the subject. The illustrations contained in this book are for F.Y. 2018 - 19 (A.Y 2019 - 20). However, the illustrations on capital gains are for the assessment year 2018 - 19 as the new CII has not yet been notified. We acknowledge the efforts put in by Dr Maheshh Singh and Ms Sunita Kackar and the entire team of Wolters Kulwer in bringing out the book in a very precise time an with excellent quality. We also wish to place on record our appreciation for CA Ankit Wadhwa for having made valuable contribution in improving the contents of the book. We look forward to the comments, and criticisms from the readers.
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Contents
1.    Introduction
2.    Basis of Charge and Meaning of Salary
3.    Taxability of Allowances
4.    Taxability of Perquisites
5.    Perquisites Taxable in Case of all Employees and Their Valuation
6.    Perquisites which are normally taxable in the hands of Specified Employees and their Valuation
7.    Tax-Free Perquisites
8.    Profits in Lieu of Salary
9.    Treatment of Retirement Benefits
10.  Treatment of Provident Fund
11.  Approved Superannuation Fund
12.  Deductions from Salaries
13.  Relief of Tax under Section 89
14.  Income under the Head “Income from House Property”
15.  Income under the Head “Capital Gains”
16.  Income under the Head “Income from Other Sources”
17.  Income of Other Persons Included in Assessee’s Total Income (Clubbing of Income)
18.  Set off Carry Forward and Set off of Losses
19.  Deductions Allowed to an Individual from Gross Total Income
20.  Deduction of Tax at Source from Salary
21.  Certain Incomes which do not form part of Total Income of an Individual
22.  Illustrations on Income from Salary
23.  Filing of Return by Salaried Persons
24.  Taxation of Hindu Undivided Family
Appendix 1 - Floating Rate Savings Bonds, 2020 (Taxable)  
Appendix 2 - Reverse Mortgage Scheme, 2008
Appendix 3 - Capital Gains Accounts Scheme, 1988
Appendix 4 - Rates of Taxation
Appendix 5 - Tax Tables
Appendix 6 - Rules for Valuation of Perquisites
Appendix 7 - Income-Tax Deduction from Salaries during the Financial Year 2020-21
                          under section 192 of the Income-Tax Act, 1961
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Author Details
Dr. GIRISH AHUJA did his graduation and post-graduation from Shri Ram College of Commerce, Delhi and was a position holder.He was awarded a Ph.D. degree by Faculty of Management Studies(FMS), Delhi University. He is a Fellow of the Institute of Chartered Accountant of India (ICAI) and was a rank holder of both Intermediate and Final examinations of the Institute. He had been nominated by Government of India as a member of the Task Force for redrafting the Income tax Act and New Income-tax Law. He is also on the Board of Directors of many reputed companies and has a vast and rich experience in the field of finance and taxation. He has been nominated by the Government of Directors of UNITECH LTD with the approval of the Supreme Court to Board and was also been nominated by the Govt. of India as Independent Director of the Central Board of State Bank of India. Dr. Ahuja is a author of various books on Direct Taxation and he has addressed more than 5000 seminars organized by the ICAI, ICSI, ICWAI, Chambers of Commerce.
Dr. RAVI GUPTA did his graduation and post-graduation from Shri Ram College of Commerce. Thereafter, he did LL.B. from Delhi University and MBA (Finance) from Faculty of Management Studies, Delhi. He has been awarded a Ph.D. degree in International Finance by the Delhi University. He had been a faculty member at Shri Ram College of Commerce (Delhi University). He is an advocate and leading consultant at Delhi NCR and also has vast practical experience in handling tax matters of trade and industry. He is also a Central Council member of ICAI (Government of India Nominee) and on the Board of various reputed companies. He is a co-author of various books on Income-tax. He has addressed more than 3000 seminars on Direct Taxes organized by ICAI, Chambers of Commerce, Universities, etc.