A 360° Approach To Presumptive Taxation
- Year of Publication: 2023
- Edition: 1st
- ISBN: 978-93-94163-49-2
- No.of Pages: 225
The objective of a presumptive taxation scheme is to encourage voluntary compliance by taxpayers engaged in small and medium level businesses. The administrative and compliance cost of the Income Tax Department is also lower as compared to taxation of business under the regular provisions of law. The advocates for a presumptive method of taxation also claim that it helps reduce tax avoidance. The use of presumptive taxation as a tax tool is gaining currency in a number of countries.
The Income Tax Act has framed the scheme of presumptive taxation to give relief to small taxpayers from the tedious job of maintenance of books of account and from getting the accounts audited. The scheme was introduced in 1993 and has subsequently been amended from time to time. The book “A 360° Approach to Presumptive Taxation” has been divided into 16 Chapters. Each Chapter contains relevant statutory provisions, followed by lucid commentary with the help of examples, bullet points, flow charts, underlines, and judicial pronouncements. In order to enable the readers to have an interesting and rewarding reading experience, certain headings and sub-headings have been marked. A careful reading of the book shall certainly impart a greater understanding of the Presumptive Taxation Scheme. Apart from amendments made by the Finance Act, 2023 the important judicial pronouncements available to us up-to-date have been included in this book.
The book will be useful for one and all concerned with tax practice, tax administration, and business, for the subject matter covered herein is one which is of day-to-day relevance.
Ravinder broke the custom of not indulging into his family business, rather he moved the steering wheel of his life towards Chartered Accountancy profession after graduating Bachelors of Commerce from DAV College, Jalandhar and simultaneously doing his Masters of Commerce from Himachal Pradesh University. He fulfilled his innate desire to understand the intricacies of legal world by doing Bachelors of Law from Guru Nanak Dev University, Amritsar.
Ravinder won various accolades of success to his name but all this was not built overnight, these laurels were achieved by sleepless nights and rigorous efforts and on his journey of acquiring and sharing of knowledge, he contributed to the profession by being Vice-Chairman of Jalandhar Branch of NIRC of ICAI from 1995-1998, Chairman of Jalandhar branch of NIRC of ICAI for the year 2008-2009, Member of Regional Tax Advisory Committee of CBDT, New Delhi, Member of Direct Tax Committee of ICAI for the Year 2011-2012, Special Invitee in Direct Tax Committee of ICAI for the Year 2012-2013, Member of Indirect Tax Committee of ICAI for the Year 2013-2014, Member of Board of Studies of ICAI for 2014-15, Senate Member of Guru Nanak Dev University, Amritsar from 01.07.2014 to 30.06.2016, Member of Committee on Economic, Commercial Laws & WTO and Economic Advisory of ICAI for the Year 2017-2018 and at present he is on the panel of authors of "Tax Guru", the well known website for dissemination of taxation and other related information.
Bharat is a 'trade-name' for a group of concerns, popularly known as Bharat Law House and Bharat Law House Pvt. Ltd. Bharat is one of the most reputed publishers of law books with an experience of over six decades. It possess a very diverse range of publications covering not only the area of taxation - direct and indirect - but also company law, insolvency capital market, finance, industrial law, foreign exchange, commercial, civil and criminal laws. The students publications for CA, CS, CMA, CFA, MBA, graduate and post-graduate studies have carved out a niche for themselves. The Publication House has a professionally qualified team with strong in-house capabilities. Their strength lies in the patronage of legal luminaries in every field. They strive for accuracy, authenticity and sincerity.
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- Year of Publication: 2023
- Edition: 1st
- ISBN: 978-93-94163-49-2
- No.of Pages: 225
The objective of a presumptive taxation scheme is to encourage voluntary compliance by taxpayers engaged in small and medium level businesses. The administrative and compliance cost of the Income Tax Department is also lower as compared to taxation of business under the regular provisions of law. The advocates for a presumptive method of taxation also claim that it helps reduce tax avoidance. The use of presumptive taxation as a tax tool is gaining currency in a number of countries.
The Income Tax Act has framed the scheme of presumptive taxation to give relief to small taxpayers from the tedious job of maintenance of books of account and from getting the accounts audited. The scheme was introduced in 1993 and has subsequently been amended from time to time. The book “A 360° Approach to Presumptive Taxation” has been divided into 16 Chapters. Each Chapter contains relevant statutory provisions, followed by lucid commentary with the help of examples, bullet points, flow charts, underlines, and judicial pronouncements. In order to enable the readers to have an interesting and rewarding reading experience, certain headings and sub-headings have been marked. A careful reading of the book shall certainly impart a greater understanding of the Presumptive Taxation Scheme. Apart from amendments made by the Finance Act, 2023 the important judicial pronouncements available to us up-to-date have been included in this book.
The book will be useful for one and all concerned with tax practice, tax administration, and business, for the subject matter covered herein is one which is of day-to-day relevance.
Ravinder broke the custom of not indulging into his family business, rather he moved the steering wheel of his life towards Chartered Accountancy profession after graduating Bachelors of Commerce from DAV College, Jalandhar and simultaneously doing his Masters of Commerce from Himachal Pradesh University. He fulfilled his innate desire to understand the intricacies of legal world by doing Bachelors of Law from Guru Nanak Dev University, Amritsar.
Ravinder won various accolades of success to his name but all this was not built overnight, these laurels were achieved by sleepless nights and rigorous efforts and on his journey of acquiring and sharing of knowledge, he contributed to the profession by being Vice-Chairman of Jalandhar Branch of NIRC of ICAI from 1995-1998, Chairman of Jalandhar branch of NIRC of ICAI for the year 2008-2009, Member of Regional Tax Advisory Committee of CBDT, New Delhi, Member of Direct Tax Committee of ICAI for the Year 2011-2012, Special Invitee in Direct Tax Committee of ICAI for the Year 2012-2013, Member of Indirect Tax Committee of ICAI for the Year 2013-2014, Member of Board of Studies of ICAI for 2014-15, Senate Member of Guru Nanak Dev University, Amritsar from 01.07.2014 to 30.06.2016, Member of Committee on Economic, Commercial Laws & WTO and Economic Advisory of ICAI for the Year 2017-2018 and at present he is on the panel of authors of "Tax Guru", the well known website for dissemination of taxation and other related information.
Bharat is a 'trade-name' for a group of concerns, popularly known as Bharat Law House and Bharat Law House Pvt. Ltd. Bharat is one of the most reputed publishers of law books with an experience of over six decades. It possess a very diverse range of publications covering not only the area of taxation - direct and indirect - but also company law, insolvency capital market, finance, industrial law, foreign exchange, commercial, civil and criminal laws. The students publications for CA, CS, CMA, CFA, MBA, graduate and post-graduate studies have carved out a niche for themselves. The Publication House has a professionally qualified team with strong in-house capabilities. Their strength lies in the patronage of legal luminaries in every field. They strive for accuracy, authenticity and sincerity.
