Tax-Free Incomes & Investments (A.Y. 2009-2010)

Complete with practical examples, India top taxation expert briefs you on more than 100 items of tax-free incomes and investments which result in tax-free income. All these are described under appropriate headings arranged in an alphabetical order, and with suitable cross references.

Tax-free income and investment opportunities covered include:agricultural income, casual income, share of profit of a partner from a partnership firm, dividends on shares and units of mutual funds, interest on Relief Bonds, moneys received from the LIC, interest income of NRIS on deposit in Non-Resident (External) Account and various types of allowances granted to an employee like the conveyance allowance, uniform allowance, D.A., T.A., etc. Also covered is the tax-free income of new industrial undertakings established in Free Trade Zones & sezs and 100% EOUS which enjoy a 5 to 10-year complete tax holiday.

Then there are various types of incomes which enjoy a tax-free treatment in the form of deductions, like interest on bank deposits, 5-year complete tax holiday to new industrial undertakings in certain backward States and Union Territories, etc. and also for certain hotels & convention centres in NCR. Also included are the many specific items of income held to be as tax-free by the decisions of the Supreme Court

All these and many more have been described in this book which will serve you as a ready-reckoner for tax planning and reducing your overall tax burden.