DETAILED INDEX

Sr. Topics Pg.

No. No.
1. Income from Business/Profession 1
Sec. 30: Rent, Repairs, Taxes & Insurance of Bldg. 2
Sec. 31: Repairs & Insurance of P & M / Furniture 2
Sec. 32: Depreciation 2
Sec. 35: Expenditure on Scientific Research 14
Sec. 35CCA: Contribution for Rural Development 15
Sec. 35AD: Deduction for Specified Business 16
Sec. 35CCC: Exp. on Agriculture Extension Project 20
Sec. 35CCD: Exp. on Skill Development Project 20
Sec. 35ABB: Cost of Telecommunication Licence 21
Sec. 35ABA: Cost of Right to Use Spectrum 21
Sec. 35D: Preliminary Expenses 22
Sec. 35DD: Amalgamation & Demerger Expenses 23
Sec. 35DDA: Voluntary Retirement Compensation 23
Sec. 36(1): Other Specific Deductions - C I2B2A F.R. 24
Sec. 33AB: Tea / Coffee / Rubber Business 28
Sec. 33ABA: Petroleum & Natural Gas Business 28
Sec. 37(1): General Deduction 29
Sec. 37(2B): Advertisement – Political Party 31
Sec. 40(a): I. Tax / Wealth Tax and Exps. Without TDS 31
Sec. 40A(2): Payment to Relatives 32
Sec. 40A(3): Payment Exceeding Rs. 10,000 33
Sec. 40A(7): Provision for Gratuity 36
Sec. 43B: Deduction on Payment Basis 36
Sec. 28: List of Business Incomes 38
Sec. 41: Deemed Business Incomes 39
Sec. 44AA: Compulsory Maintenance of Books 42
Sec. 44AB: Compulsory Audit of Accounts 43
Sec. 44AE: Presumptive Scheme – Transport Business 44
Sec. 44ADA: Presumptive Taxation for Professionals 45
Sec. 44AD: Presumptive Taxation for All Business 46

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2. Assessment of Partnership Firms 52
Sec. 184 52
Sec. 40(b) 53
Representative Partner 56
3. Computation of Tax Liability 57
4. Assessment of Companies [Minimum Alternate Tax] 65
Book Profits 66
MAT Credit 71
5. Alternate Minimum Tax (AMT) 74
6. Income Computation & Disclosure Standards (ICDS) 75
7. Taxation of Gifts 81
8. Capital Gains 85
Sec. 45(1): Basis of Charge 87
Sec. 45(1A): Destruction of Capital Asset 88
Sec. 45(1B): Amount Received under ULIP 89
Sec. 45(2): Conversion of CA into Stock in Trade 91
Sec. 45(3): Transfer by Partner to P, Firm 92
Sec. 45(5): Compulsory Acquisition by Govt. 93
Sec. 46: Liquidation 95
Sec. 47: Exempt Transfers 97
Sec. 49(1): Capital Gains After Exempt Transfers 98
Sec. 49(4): Cost of Asset Acquired by Way of Gift 100
Sec. 49(2): Cost of New Shares in Amalgamation 101
Sec. 49(2A): Cost of Shares Recd. on Conversion of 102
Conv. Deb.
Sec. 49(2AA): Cost of Shares Allotted under ESOPS 103
Sec. 49(2C): Cost of Shares of Resulting Co. 103
Sec. 49(2D): Cost of Shares of D. Co (after demerger) 104
Sec. 48/50: Mode of Computation 105
Sec. 50B: Slump Sale 106
Sec. 50C: FVOC for Immovable Property 109

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 Sec. 50CA: FVOC for Unlisted Shares 110
Sec. 50AA: Taxation of MLDs and SMFs 110
Sec. 51: Forfeiture of Advance Money Received 111
Sec. 55: Cost in Different Situations 112
Sec. 45(5A): Joint Development Agreement (JDA) 113
Sec. 49(9): Conversion of Stock in Trade into CA 114
Exemptions u/s 54, 54B etc… 115
Capital Gains on Shares & Securities (Sec. 111A & 112A) 126
9. Transfer Pricing 131
Sec. 92A: Associated Enterprises 133
Sec. 92B: International Transaction 134
Sec. 92C: Arms Length Price 135
Sec. 92CA: Reference to TPO 151
Sec. 144C: Dispute Resolution Panel 152
Sec. 92CB: Safe Harbour Rules 155
Sec. 92CC: Advance Pricing Agreement 156
Sec. 92CD: Effect of APA on Returns & Asst 157
Sec. 92CE: Secondary Adjustment 159
Sec. 92D: Information & Documents 161
Sec. 92E: Report of CA 163
Sec. 94B: Limit on Interest Dedn. 165
Transfer Pricing Documentation 166
10. Deemed Dividend 169
Sec. 2(22((a): Release of Company’s Asset 169
Sec. 2(22)(b): Bonus 169
Sec. 2(22)(c): Liquidation [Closure] of Company 170
Sec. 2(22)(d): Reduction of Share Capital 170
Sec. 2(22)(e): Loan by Closely held co. (Exception) 171
11. Double Taxation 173
Sec. 90: Bilateral Relief 173
Sec. 91: Unilateral Relief 174
12. Taxation of AOP 177

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13. Sundry Important Topics 178
Sec. 115BBG: Income from Carbon Credit 178
Sec. 115BBF: Royalty from Patents 178
Sec. 115BBE: Tax on Unexplained Credits etc. 179
Sec. 115QA: Buy Back of Shares 180
Sec. 270A: Penalty for Under – Reporting 180
Sec. 94A: Transactions with PLINJA 182
Sec. 269 SS: Cash Loans ≥ 20,000 183
Sec. 269 T: Cash Repayment ≥ 20,000 183
Sec. 269 ST: Cash Receipt ≥ 2,00,000 183
Statement of Financial Transactions 184
Residential Status of a Company (POEM) 186
Other Points 188
14. Concessional Tax Regime 195
Sec. 115BAA: 22% Tax Option for Indian Companies 195
Sec. 115BAB: 15% Tax Option for New Mfg. Indian Co. 196
Sec. 115BAC: Concessional Tax for IND./HUF etc. 199
Sec. 115BAD: 22% Tax Option for Co. Op. Sty. 201
15. Returns and Assessment 203
Sec. 139(1): Voluntary Return 203
Sec. 139(4A): Return by Charitable Trust 205
Sec. 139(4B): Return by Political Party 205
Sec. 139(3): Loss Return 205
Sec. 139(4): Belated Return 206
Sec. 139(5): Revised Return 207
Sec. 139(9): Defective Return 207
Sec. 140A: Self-Assessment 208
Sec. 142(1): Sending Notice (RAI Notice) 209
Sec. 142(2): Information – Other Sources 209
Sec. 142(2A): Special Audit 209
Sec. 143(1): Summary Assessment 211
Sec. 143(2)(3): Regular Assessment 213
Sec. 144: Best Judgment Assessment 215
Sec. 147 to 152: Income Escaping Assessment 217
Sec. 153: Time Limit for Completion of Asst. 226

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 Sec. 154: Rectification of Mistakes 227
Sec. 156: Notice of Demand 228
Sec. 144A: Power of JC to Issue Directions 229
Sec. 145: Method of Accounting 230
16. Appeals, Reference and Revision 231
Sec. 246A to 251: Appeal to CIT(A) 233
Sec. 252 to 255: Appeal to ITAT 235
Sec. 260A & 260B: Refence to HC 237
Sec. 261 & 262: Reference to SC 237
Sec. 263: Revision by CIT/CCIT [For Govt.] 238
Sec. 264: Revision by CIT/CCIT [For Assessee] 240
Sec. 158A: Avoidance of Repetitive Appeals 242
Sec. 268A: Appeals by Department 243
17. Assessment Time Limits 244
18. Search and Seizure 245
Sec. 132: When, Who & How? 245
Sec. 147: Assessment in Search Cases 248
Sec. 132B: Application of Seized Assets 249
19. Survey 251
Sec. 133A 251
20. Faceless Assessment and DRC 254
Sec. 144B: Faceless Assessment 254
Sec. 245MA: Dispute Resolution Committee 257
21. Updated Return 260
Sec. 139(8A): Updated Return 260
22. Advance Ruling 262
Meaning 262
Who can approach? 262
Procedure 264
23. Tax Deduction at Source 266
Threshold limits & Rate of TDS 266
Payer 268
Receiver 269
Section wise Notes 271
General Notes 284
24. Tax Collection at Source 295
Difference between TDS and TCS 295
TCS Rates 296
General Notes 297

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25. Taxation of Non-Residents 299
Chapter XII A 299
Chapter XII 301
Presumptive Taxation 305
First provisio to Sec. 48 306
26. Exemptions for NR 307
27. Taxation of Business Trust 310
28. Taxation of Investment Fund 316
29. IFSC: International Financial Services Centre 322
30. Taxation of Securitisation Trust 323
31. Equalization Levy 324
32. Tax Planning/Evasion/Avoidance and GAAR 330
33. Charitable Trust 336
Meaning 336
Conditions 337
Registration 337
Computation 340
Exit Tax 346
34. Assessment of Co-operative Societies 350
Sec. 80P 350
Sec. 80PA 351
35. Advance Tax and Interest 352
36. Deduction u/s 10AA 356
37. Section 9: Income Deemed to Accrue/Arise in India 358
38. Deductions under Chapter VIA 361
39. Residential Status 376
40. Clubbing of Income 380
41. Set-off and Carry forward of losses 381
42. Political Party and Electoral Trust 386
Sec. 13A: Political Party 386
Sec. 13B: Electoral Trust 386
43. Tonnage Tax Scheme 387
44. Domestic Transfer Pricing 390
Sec. 92BA: Specified Domestic Transactions 390

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45. Case Laws 391
46. Additional Case Laws 405
47. Fundamentals of BEPS 408
48. Model Tax Conventions 422
49. Tax Treaties 431
50. Amendments 438
51. Latest Developments in International Taxation 455
52. Tax Audit and Ethical Compliances 475
53. Provisions to Counteract Unethical Tax Practices 488
54. Black Money Act, 2015 510
Introduction 510
Basis of Charge 511
Valuation 511
Computation 515
Assessment 516
Rectification/Appeals/References/Revision 516
Penalties 517

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