Income Tax Law and Practices - DF25S40

This study material provides a clear and practical introduction to India’s income tax system. It explains the structure of direct taxes, key definitions, residential status, and the rules that determine how income is classified and taxed. Students learn the five heads of income—Salary, House Property, Business or Profession, Capital Gains, and Other Sources—along with deductions, exemptions, set-off and carry-forward rules, TDS, PAN, and return filing procedures. The book also covers assessment processes, recent tax provisions, documentation requirements, and practical computation examples. With simple explanations and structured concepts, it equips learners with the essential knowledge needed to understand and apply income tax laws in real-life financial and professional situations.