Sampath Iyengar’s Law of INCOME TAX (In 11 vols.) [Complete Set Ready] [Vol. 11: Containing Commentary on Wealth Tax Act, 1957]

Edition: 12th edn., 2018

ISBN: 978-93-5139-426-6

Pages: 18032

Author: Revised by S. RAJARATNAM, Member (Retd.), ITAT, Advocate & Tax Management Consultant Foreword by Justice M.B. SHAH, Chairman, SIT on Black Money, Former Judge, Supreme Court of India

Volume 1INTRODUCTIONPRINCIPLES OF CONSTRUCTION General Principles Particular Principles-I Particular Principles-II(A) Mutuality Principle(B) Diversion by Overriding Title(C) Real Income Theory(D) Concepts of Telescoping and Peak CreditChapter IPreliminary1. Short title, extent and commencement2. Definitions (1) “Advance tax” (1A) “Agricultural income” (1B) “Amalgamation” (1C) “Additional Commissioner” (1D) “Additional Director” (2) “Annual value” (3) “Appellate Assistant Commissioner” (Omitted) (4) “Appellate Tribunal” (5) “Approved gratuity fund” (6) “Approved superannuation fund” (7) “Assessee” (7A) “Assessing Officer” (8) “Assessment” (9) “Assessment year” (9A) “Assistant Commissioner” (9B) “Assistant Director” (10) “Average rate of income-tax” (11) “Block of assets” (12) “Board” (12A) "Books or books of account" (13) “Business” (13A) “Business trust” (14) “Capital asset” (15) “Charitable purpose” (15A) “Chief Commissioner” (15B) “Child” (16) “Commissioner” (16A) “Commissioner (Appeals)” (17) “Company” (18) “Company in which the public are substantially interested” (19) “Co-operative society” (19A) “Deputy Commissioner” (19AA) "Demerger" (19AAA) "Demerged company" (19B) “Deputy Commissioner (Appeals)” (19C) "Deputy Director" (20) “Director”, “manager” and “managing agent” (21) “Director General or Director” (22) “Dividend” (22A) “Domestic company” (22AA) "Document" (22AAA) "Electoral Trust" (22B) “Fair market value” (23) “Firm”, “partner” and “partnership” (23A) “Foreign company” (23B) “Fringe benefits” (23C) “Hearing” (24) “Income” (25) “Income-tax Officer” (25A) “India” (26) “Indian company” (26A) “Infrastructure capital company” (26B) “Infrastructure capital fund” (27) “Inspecting Assistant Commissioner” (Omitted) (28) “Inspector of Income-tax” (28A) “Interest” (28B) “Interest on securities” (28BB) "Insurer" (28C) "Joint Commissioner" (28D) "Joint Director" (29) “Legal representative” (29A) “Long-term capital asset” (29B) “Long-term capital gain” (29BA) “Manufacture” (29C) “Maximum marginal rate” (29D) “National Tax Tribunal” (30) “Non-resident” (31) “Person” (32) “Person who has a substantial interest in the company” (33) “Prescribed” (34) “Previous year” (34A) “Principal Chief Commissioner of Income-tax” (34B) “Principal Commissioner of Income-tax” (34C) “Principal Director of Income-tax” (34D) “Principal Director General of Income-tax” (35) “Principal officer” (36) “Profession” (36A) “Public sector company” (37) “Public servant” (37A) “Rate or rates in force” or “rates in force” (38) “Recognised provident fund” (39) “Registered firm” (Omitted) (40) “Regular assessment” (41) “Relative” (41A) "Resulting company" (42) “Resident” (42A) “Short-term capital asset” (42B) “Short-term capital gain” (42C) "Slump sale" (43) “Tax” (43A) “Tax credit certificate” (43B) “Tax Recovery Commissioner” (Omitted) (44) “Tax Recovery Officer” (45) “Total income” (46) “Total world income” (Omitted) (47) “Transfer” (48) “Zero Coupon Bond”3. "Previous year" definedChapter IIBasis of Charge4. Charge of income-tax5. Scope of total income5A. Apportionment of income between spouses governed by Portuguese Civil Code6. Residence in India7. Income deemed to be received8. Dividend incomeSUBJECT INDEXVolume 2Chapter IIBasis of Charge (Contd.)9. Income deemed to accrue or arise in India9A. Certain activities not to constitute business connection in IndiaChapter IIIIncomes which do not form part of total income10. Incomes not included in total income (1) agricultural income (2) sum received by a member of HUF (2A) share income of partner (3) casual and non-recurring receipts (Omitted) (4) interest income of a non-resident from specified securities, bonds and NRE account (4A) interest income of a non-resident from NRE account in any bank in India (Substituted) (4B) interest income of NRIs on specified savings certificates (5) value of any travel concession or assistance (5A) remuneration received for rendering services in connection with shooting of cinematograph films by foreign film producers (Omitted) (5B) tax on salaries to technicians (Omitted) (6) specified exemptions to foreign citizens employed in India (6A) tax paid on behalf of a foreign company in respect of royalty or fees for technical services (6B) tax paid by Government or an Indian concern not to form part of the income of non-residents (6BB) tax paid by an Indian company under an approved agreement with foreign Government/enterprise engaged in aircraft business (6C) income by way of fees arising to a specified foreign company for services connected with security of India (7) allowances or perquisites to Indian citizens for services outside India (8) remuneration for duties in India in connection with any co-operative technical assistance programmes and proje