Tax exemptions are an important component of tax policies. A tax exemption is “…any tax provision that exempts, in whole or part, certain persons, income, goods, services or property from the impact of established taxes. The individual income tax is the largest generator of revenues for Government. Many income tax exemptions are based on consistency with federal tax policy. This e-book is written by CA Rahul Jain containing the fully complied summary of Income Tax Provisions and exemptions, which is as under:
- Residential Status of Scope of Total Income
- Salaries
- Income from House Property
- Profit and Gains of Business or Profession
- Capital Gains
- Income From Other Sources
- Clubbing of Income
- Set-off or Carry forward and Set off of Losses
- Deductions from Gross Total Income
Summary of the Provisions of Income Tax Deductions.
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