Income Tax Guide for the Taxpayer

Expert guidance on computing your taxes and trouble-free assessments

Every taxpayer needs to have a clear grasp of the key essentials of income tax, even if you have back-up help of a CA or tax expert. Here is must-know expert guidance on computing your income and taxes — and trouble-free assessment of your tax returns. In simple, clear style, Mr. Lakhotia provides you expert guidance on:

• How to compute your taxable income from different sources: salary, house property, business, profession, etc.

• Which incomes are taxed — and which are not

• All the tax-saving exemptions, rebates, and reliefs you are eligible for

• Deductions you can avail of when computing your total taxable income

• How different taxpayers are assessed: Individuals, HUFs, Firms, Companies, Non-Residents, etc.

• Procedure for filing an appeal when you think you have been assessed wrongly

• Penalties and prosecution: when these apply and how to avoid them

• Procedure of tax refunds — and much, much more.

Plus: Your income tax rates for A.Y. 2015-16 and 2016-17.